Today’s News 23rd April 2023

  • Needed: A 'Made In The USA' Policy Plus Energy Independence To Counter Inflation & The Rising National Debt
    Needed: A ‘Made In The USA’ Policy Plus Energy Independence To Counter Inflation & The Rising National Debt

    Authored by Lawrence Kadish via The Gatestone Institute,

    Sad but true, history is now all but a forgotten subject in our schools.

    But economic history?

    With luck, you may find the topic in some esoteric book written by a professor and hidden on some dusty library shelf.

    Yet it is there, within those pages, that you will find the history of nations who harnessed the power of a balanced budget and assumed global dominance.

    Of equal importance will be the parallel lesson of those that failed to appreciate that the most sophisticated military in the world can win a war only to come home to a nation that will eventually fall because of a mismanaged economy.

    Without an appreciation of that history a nation’s leaders can easily pursue a disastrous course of pork spending that can destroy the promise of the future.

    Which is why Americans should be deeply concerned about this Administration and its reign of spending and resultant increased debt, that will be burdening us, and future citizens, far into the future.

    That kind of debt is a silent nation-killer.

    Tyler Durden
    Sat, 04/22/2023 – 23:30

  • Banks Or Buddies – Where Do People Borrow Money From?
    Banks Or Buddies – Where Do People Borrow Money From?

    When making the decision to borrow money, do you turn to friends and family for financial help, or do you go to a financial institution like a bank or credit card company?

    On a country-to-country basis, this choice often depends on a mix of various factors, including the availability of financial services, financial literacy, and the cultural approach to the very concept of lending itself.

    In these graphics, Visual Capitalist’s Richie Lionell sheds some light on where people borrow money from, using the 2021 Global Findex Database published by the World Bank.

    Borrowing From Financial Institutions

    To compare borrowing practices across both location and income level, the dataset features survey results from respondents aged 15+ and groups countries by region except for high-income countries, which are grouped together.

    In 2021, most individuals in high income economies borrowed money from formal financial institutions.

    Country Region Borrowed from a financial institution
    Canada High income 81.01%
    Israel High income 79.52%
    Iceland High income 73.36%
    Hong Kong SAR, China High income 70.01%
    Korea, Rep. High income 68.64%
    Norway High income 66.82%
    United States High income 66.21%
    Taiwan, China High income 61.95%
    Switzerland High income 61.40%
    Japan High income 61.19%
    New Zealand High income 60.38%
    Australia High income 57.29%
    Austria High income 56.52%
    Italy High income 55.01%
    United Kingdom High income 54.98%
    Germany High income 54.68%
    Ireland High income 54.11%
    Denmark High income 53.16%
    Finland High income 52.98%
    Spain High income 51.92%
    Sweden High income 48.69%
    Belgium High income 47.98%
    France High income 44.37%
    Singapore High income 42.82%
    Slovenia High income 42.36%
    Uruguay High income 42.01%
    Brazil Latin America & Caribbean (excluding high income) 40.75%
    China East Asia & Pacific (excluding high income) 39.19%
    Malta High income 38.95%
    Türkiye Europe & Central Asia (excluding high income) 37.84%
    Netherlands High income 34.45%
    Slovak Republic High income 34.41%
    Mongolia East Asia & Pacific (excluding high income) 34.39%
    Ukraine Europe & Central Asia (excluding high income) 34.13%
    Estonia High income 33.64%
    Croatia High income 33.03%
    Saudi Arabia High income 32.38%
    Poland High income 31.92%
    Czech Republic High income 31.33%
    Cyprus High income 31.25%
    Cambodia East Asia & Pacific (excluding high income) 30.89%
    Argentina Latin America & Caribbean (excluding high income) 30.81%
    Portugal High income 30.44%
    Kazakhstan Europe & Central Asia (excluding high income) 29.76%
    Russian Federation Europe & Central Asia (excluding high income) 29.75%
    Thailand East Asia & Pacific (excluding high income) 28.26%
    Bulgaria Europe & Central Asia (excluding high income) 26.36%
    Armenia Europe & Central Asia (excluding high income) 26.17%
    Iran, Islamic Rep. Middle East & North Africa (excluding high income) 25.11%
    Chile High income 24.20%
    Georgia Europe & Central Asia (excluding high income) 23.89%
    Ecuador Latin America & Caribbean (excluding high income) 23.23%
    Latvia High income 22.74%
    United Arab Emirates High income 22.46%
    Kenya Sub-Saharan Africa (excluding high income) 22.18%
    North Macedonia Europe & Central Asia (excluding high income) 22.10%
    Peru Latin America & Caribbean (excluding high income) 21.95%
    Dominican Republic Latin America & Caribbean (excluding high income) 21.65%
    Bosnia and Herzegovina Europe & Central Asia (excluding high income) 21.30%
    Sri Lanka South Asia 21.29%
    Namibia Sub-Saharan Africa (excluding high income) 20.97%
    Serbia Europe & Central Asia (excluding high income) 20.65%
    Greece High income 20.11%
    Mauritius Sub-Saharan Africa (excluding high income) 20.09%
    Bolivia Latin America & Caribbean (excluding high income) 19.30%
    Romania Europe & Central Asia (excluding high income) 19.14%
    Hungary High income 18.93%
    Uganda Sub-Saharan Africa (excluding high income) 18.62%
    South Africa Sub-Saharan Africa (excluding high income) 18.22%
    Colombia Latin America & Caribbean (excluding high income) 18.10%
    Kyrgyz Republic Europe & Central Asia (excluding high income) 17.73%
    Kosovo Europe & Central Asia (excluding high income) 17.61%
    Costa Rica Latin America & Caribbean (excluding high income) 17.46%
    Philippines East Asia & Pacific (excluding high income) 17.45%
    Liberia Sub-Saharan Africa (excluding high income) 15.42%
    Bangladesh South Asia 14.22%
    Nepal South Asia 14.11%
    Malaysia East Asia & Pacific (excluding high income) 13.48%
    Albania Europe & Central Asia (excluding high income) 13.39%
    Moldova Europe & Central Asia (excluding high income) 13.18%
    Indonesia East Asia & Pacific (excluding high income) 12.86%
    Tajikistan Europe & Central Asia (excluding high income) 12.43%
    Paraguay Latin America & Caribbean (excluding high income) 12.39%
    Nicaragua Latin America & Caribbean (excluding high income) 12.19%
    Jamaica Latin America & Caribbean (excluding high income) 12.04%
    Lithuania High income 11.95%
    India South Asia 11.79%
    Mali Sub-Saharan Africa (excluding high income) 10.99%
    El Salvador Latin America & Caribbean (excluding high income) 10.56%
    Panama Latin America & Caribbean (excluding high income) 10.39%
    Honduras Latin America & Caribbean (excluding high income) 10.32%
    Mozambique Sub-Saharan Africa (excluding high income) 10.27%
    Senegal Sub-Saharan Africa (excluding high income) 9.98%
    Tunisia Middle East & North Africa (excluding high income) 9.89%
    Jordan Middle East & North Africa (excluding high income) 9.86%
    Lao PDR East Asia & Pacific (excluding high income) 9.15%
    Venezuela, RB Latin America & Caribbean (excluding high income) 8.83%
    Benin Sub-Saharan Africa (excluding high income) 8.21%
    Malawi Sub-Saharan Africa (excluding high income) 7.99%
    Uzbekistan Europe & Central Asia (excluding high income) 7.50%
    Togo Sub-Saharan Africa (excluding high income) 7.42%
    Ghana Sub-Saharan Africa (excluding high income) 7.40%
    Egypt, Arab Rep. Middle East & North Africa (excluding high income) 7.30%
    Myanmar East Asia & Pacific (excluding high income) 7.06%
    Cameroon Sub-Saharan Africa (excluding high income) 6.99%
    Zambia Sub-Saharan Africa (excluding high income) 6.76%
    Burkina Faso Sub-Saharan Africa (excluding high income) 6.66%
    Nigeria Sub-Saharan Africa (excluding high income) 6.40%
    Congo, Rep. Sub-Saharan Africa (excluding high income) 6.19%
    Guinea Sub-Saharan Africa (excluding high income) 6.11%
    Gabon Sub-Saharan Africa (excluding high income) 5.48%
    Morocco Middle East & North Africa (excluding high income) 4.99%
    West Bank and Gaza Middle East & North Africa (excluding high income) 4.94%
    Tanzania Sub-Saharan Africa (excluding high income) 4.45%
    Sierra Leone Sub-Saharan Africa (excluding high income) 4.29%
    Cote d’Ivoire Sub-Saharan Africa (excluding high income) 4.10%
    Algeria Middle East & North Africa (excluding high income) 3.80%
    Iraq Middle East & North Africa (excluding high income) 3.64%
    Pakistan South Asia 3.51%
    Lebanon Middle East & North Africa (excluding high income) 3.31%
    Zimbabwe Sub-Saharan Africa (excluding high income) 2.89%
    South Sudan Sub-Saharan Africa (excluding high income) 2.48%
    Afghanistan South Asia 2.05%

    With 81% of respondents borrowing from financial institutions, Canada tops this list. Meanwhile, Israel (80%), Iceland (73%), Hong Kong (70%), and South Korea (69%) are not far behind.

    This is not surprising for richer nations, as financial services in these countries are more available and accessible. This, coupled with higher financial literacy, including a general understanding of interest rates and credit-building opportunities, contribute to the popularity of financial institutions.

    Also, it’s worth noting that some countries have cultural practices that factor in. For example, 61% of respondents in Japan used formal financial institutions, which are a more socially acceptable option than asking to borrow money from friends and family (just 6% of people in Japan).

    Borrowing from Friends and Family

    In contrast, more individuals in lower income economies approached family and friends in order to borrow money.

    Afghanistan tops this list with 60% of respondents relying on friends and family, compared to only 2% borrowing money from formal financial institutions.

    Country Region Borrowed from family or friends
    Afghanistan South Asia 60.18%
    Uganda Sub-Saharan Africa (excluding high income) 57.45%
    Kenya Sub-Saharan Africa (excluding high income) 54.40%
    Namibia Sub-Saharan Africa (excluding high income) 50.25%
    Morocco Middle East & North Africa (excluding high income) 48.73%
    Nigeria Sub-Saharan Africa (excluding high income) 44.71%
    South Africa Sub-Saharan Africa (excluding high income) 44.54%
    Iraq Middle East & North Africa (excluding high income) 44.10%
    Cameroon Sub-Saharan Africa (excluding high income) 43.49%
    Zambia Sub-Saharan Africa (excluding high income) 43.08%
    Zimbabwe Sub-Saharan Africa (excluding high income) 42.34%
    Guinea Sub-Saharan Africa (excluding high income) 42.04%
    Nepal South Asia 41.79%
    Jordan Middle East & North Africa (excluding high income) 41.76%
    Gabon Sub-Saharan Africa (excluding high income) 41.41%
    Liberia Sub-Saharan Africa (excluding high income) 41.37%
    Tunisia Middle East & North Africa (excluding high income) 41.05%
    Philippines East Asia & Pacific (excluding high income) 40.82%
    Türkiye Europe & Central Asia (excluding high income) 40.80%
    Iran, Islamic Rep. Middle East & North Africa (excluding high income) 39.80%
    Sierra Leone Sub-Saharan Africa (excluding high income) 39.02%
    Ghana Sub-Saharan Africa (excluding high income) 38.58%
    Egypt, Arab Rep. Middle East & North Africa (excluding high income) 37.75%
    Saudi Arabia High income 35.76%
    Bangladesh South Asia 35.49%
    Mali Sub-Saharan Africa (excluding high income) 35.15%
    Burkina Faso Sub-Saharan Africa (excluding high income) 35.14%
    Cambodia East Asia & Pacific (excluding high income) 34.85%
    Venezuela, RB Latin America & Caribbean (excluding high income) 34.81%
    Togo Sub-Saharan Africa (excluding high income) 33.99%
    West Bank and Gaza Middle East & North Africa (excluding high income) 33.93%
    Thailand East Asia & Pacific (excluding high income) 32.83%
    Lao PDR East Asia & Pacific (excluding high income) 32.36%
    Moldova Europe & Central Asia (excluding high income) 32.18%
    Ukraine Europe & Central Asia (excluding high income) 32.17%
    Senegal Sub-Saharan Africa (excluding high income) 31.30%
    Armenia Europe & Central Asia (excluding high income) 31.29%
    India South Asia 31.02%
    Bolivia Latin America & Caribbean (excluding high income) 30.69%
    Algeria Middle East & North Africa (excluding high income) 30.52%
    Cote d’Ivoire Sub-Saharan Africa (excluding high income) 30.20%
    Albania Europe & Central Asia (excluding high income) 30.00%
    Bulgaria Europe & Central Asia (excluding high income) 29.99%
    Benin Sub-Saharan Africa (excluding high income) 29.33%
    Mozambique Sub-Saharan Africa (excluding high income) 29.33%
    Tanzania Sub-Saharan Africa (excluding high income) 29.24%
    Colombia Latin America & Caribbean (excluding high income) 29.08%
    Indonesia East Asia & Pacific (excluding high income) 28.85%
    South Sudan Sub-Saharan Africa (excluding high income) 28.84%
    Ecuador Latin America & Caribbean (excluding high income) 28.79%
    Serbia Europe & Central Asia (excluding high income) 28.49%
    Russian Federation Europe & Central Asia (excluding high income) 28.40%
    Mongolia East Asia & Pacific (excluding high income) 27.01%
    Kyrgyz Republic Europe & Central Asia (excluding high income) 27.01%
    China East Asia & Pacific (excluding high income) 26.43%
    Honduras Latin America & Caribbean (excluding high income) 26.07%
    Greece High income 25.94%
    Kosovo Europe & Central Asia (excluding high income) 25.86%
    Argentina Latin America & Caribbean (excluding high income) 25.72%
    Kazakhstan Europe & Central Asia (excluding high income) 25.64%
    Romania Europe & Central Asia (excluding high income) 25.58%
    Malawi Sub-Saharan Africa (excluding high income) 25.24%
    North Macedonia Europe & Central Asia (excluding high income) 25.14%
    Dominican Republic Latin America & Caribbean (excluding high income) 24.70%
    Brazil Latin America & Caribbean (excluding high income) 24.66%
    Congo, Rep. Sub-Saharan Africa (excluding high income) 24.40%
    Lebanon Middle East & North Africa (excluding high income) 24.26%
    Nicaragua Latin America & Caribbean (excluding high income) 23.75%
    Iceland High income 23.63%
    Peru Latin America & Caribbean (excluding high income) 23.34%
    United Arab Emirates High income 23.04%
    Myanmar East Asia & Pacific (excluding high income) 23.03%
    Sri Lanka South Asia 22.53%
    Paraguay Latin America & Caribbean (excluding high income) 22.20%
    Pakistan South Asia 21.87%
    Uzbekistan Europe & Central Asia (excluding high income) 21.53%
    Cyprus High income 20.95%
    Bosnia and Herzegovina Europe & Central Asia (excluding high income) 20.94%
    Chile High income 20.72%
    Georgia Europe & Central Asia (excluding high income) 20.61%
    Mauritius Sub-Saharan Africa (excluding high income) 20.48%
    Costa Rica Latin America & Caribbean (excluding high income) 20.29%
    Jamaica Latin America & Caribbean (excluding high income) 20.02%
    Tajikistan Europe & Central Asia (excluding high income) 19.86%
    Poland High income 19.34%
    Norway High income 19.29%
    United States High income 18.09%
    Uruguay High income 17.60%
    Panama Latin America & Caribbean (excluding high income) 17.54%
    Denmark High income 17.51%
    Croatia High income 17.09%
    El Salvador Latin America & Caribbean (excluding high income) 16.78%
    Slovenia High income 16.77%
    Latvia High income 16.57%
    Australia High income 16.44%
    Estonia High income 15.74%
    Malaysia East Asia & Pacific (excluding high income) 15.44%
    Israel High income 15.43%
    New Zealand High income 15.19%
    Slovak Republic High income 15.02%
    Germany High income 15.01%
    Austria High income 14.41%
    Canada High income 14.00%
    Finland High income 13.43%
    Czech Republic High income 13.41%
    Korea, Rep. High income 13.16%
    Malta High income 12.99%
    Belgium High income 12.13%
    Sweden High income 11.79%
    Hungary High income 11.15%
    Lithuania High income 10.65%
    Spain High income 10.44%
    France High income 10.42%
    Netherlands High income 10.24%
    Ireland High income 9.84%
    Taiwan, China High income 9.70%
    Portugal High income 8.22%
    Hong Kong SAR, China High income 7.59%
    Japan High income 6.43%
    Switzerland High income 6.10%
    United Kingdom High income 5.24%
    Italy High income 5.06%
    Singapore High income 1.89%

    Many individuals in African countries including Uganda (57%), Kenya (54%), Namibia (50%), and Morocco (49%) also are choosing to borrow money from friends and family over financial institutions.

    These preferences can be attributed to various factors including a lack of trust in banking and financial institutions, lacking access to such services, or the lack of information about such services if they are available.

    And in some societies, borrowing from friends and family can be seen as a cultural norm, especially in places where mutual support and solidarity play a strong role.

    What’s Next?

    As viewed by the World Bank, financial inclusion is an important foundation of any nation’s development, and it’s also one of the UN’s Sustainable Development Goals. Increasing levels of financial inclusion helps give people access to services like savings plans, credit avenues, and online payments and transactions.

    And thanks to commitments from countries and financial systems, global ownership of banking accounts has increased significantly (and been further spurred by the COVID-19 pandemic). According to the Global Findex Database, bank account ownership has risen to 76% in 2021, up from just 51% a decade prior.

    However, access to these services is still rife with gaps when it comes to low income nations, low income individuals, and unequal access based on gender. The future of borrowing now relies on how nations deal with these challenges.

    Tyler Durden
    Sat, 04/22/2023 – 23:00

  • Gun-Free Zones, Red Flag Laws Only Make Gun Crime Worse: Economist
    Gun-Free Zones, Red Flag Laws Only Make Gun Crime Worse: Economist

    Authored by Michael Clements via The Epoch Times (emphasis ours),

    Two of the most popular gun control proposals have little to no effect on gun crime and actually exacerbate the problem for the people they’re supposed to protect, according to economist, researcher, and author John Lott.

    “Those are the people who are harmed,” Lott told seminar participants at the National Rifle Association’s Annual Meetings and Exhibits in Indianapolis.

    Police tape at Geneva Presbyterian Church after a shooting left one dead and five injured in Laguna Woods, Calif., on May 15, 2022. (John Fredricks/The Epoch Times)

    Lott is considered an authority on guns and crime, having authored more than 100 peer-reviewed articles and 10 books on the subject. He led two seminars discussing the effectiveness of gun-free zones, red-flag laws, and other gun control measures.

    He said the story of Nikki Goeser encapsulates the shortcomings of these laws.

    Goeser is the author of “Stalked and Defenseless: How Gun Control Helped My Stalker Murder My Husband in Front of Me.” She’s also the executive director of the Crime Prevention Research Center (CPRC), of which Lott is the president.

    People walk past a “Gun Free Zone” sign posted on 40th Street and 7th Avenue in New York on Aug. 31, 2022. (Michael M. Santiago/Getty Images)

    Goeser was scheduled to speak at the event but couldn’t attend because of family obligations.

    Fourteen years ago, Goeser and her late husband, Ben, operated a karaoke business. A man the couple had met became infatuated with her and began stalking her.

    While Goeser had a license to carry a concealed pistol, at the time, it was illegal in her home state of Tennessee to carry a firearm in any business that served alcohol.

    One night, while running their karaoke business, Goeser’s stalker showed up and shot her husband seven times in front of her. Goeser’s situation was known to the police, but the stalker had been undeterred.

    Lott said Goeser has stated that she isn’t sure she could have stopped the crime if she had had her pistol. But she’s confident that complying with the law ensured that she couldn’t protect her husband or herself.

    “As the title of her book says, she was denied the chance,” he said.

    Buffalo supermarket shooting suspect Payton Gendron in a jail booking photograph. (Erie County District Attorney’s Office via AP)

    Lott told the gathering that Goeser’s story is a perfect example of the problems with gun-free zones.

    According to statistics from the CPRC, 94 percent of mass shootings since 1950 have occurred in gun-free zones.

    Lott said one well-known mass killer explained his reasoning in a manifesto written the year before he struck.

    The 19-year-old man who killed 10 people in a Buffalo, New York, grocery store on May 14, 2022, has been described as a right-wing racist, Lott said. But, while he was an avowed racist, Lott said the shooter described himself as an environmentalist and eco-terrorist.

    In his manifesto, the shooter claimed that minorities were damaging the environment by having too many children, and that’s why he decided to attack black people.

    “Attacking in a weapon-restricted area may decrease the chance of civilian backlash,” Lott quoted from the shooter’s writings. “… ‘areas where CCW [concealed weapons] are outlawed or prohibited may be good areas of attack,’ and ‘areas with strict gun laws are also great places of attack.’”

    Tyler Durden
    Sat, 04/22/2023 – 22:30

  • Japan Readies Missile Interceptors To Shoot Down North Korea Spy Satellite Debris
    Japan Readies Missile Interceptors To Shoot Down North Korea Spy Satellite Debris

    Japan is preparing its armed forces to shoot down potential North Korean satellite debris as Pyongyang prepares yet another provocative rocket launch, which could again bring Japan under threat.

    This time Kim Jong Un is saying the country will soon launch its first military spy satellite into orbit, at an unspecified date. On Tuesday Kim previewed that he will soon deploy an operational military reconnaissance satellite, necessary to effectively the DPRK’s nuclear-capable missiles.

    KCNA/AP file: North Korean leader Kim Jong Un visits the Sohae Satellite Launching Ground in Tongchang in March 2022.

    Kim said further that it is necessary in thwarting the serious security threats posed by “the most hostile rhetoric and explicit action” of the US and South Korea.

    In response Japan, which has already seen North Korean missiles recently fly over the island or into waters close to the country, is putting its missile interceptor units on high alert, in the scenario of spy satellite fragments from a possible failed launch or failed orbit falling down into Japanese territory.

    According to details in The Associated Press

    Defense Minister Yasukazu Hamada on Saturday instructed troops to ready PAC-3 surface-to-air missiles in southwestern Japan, including Okinawa and nearby islands, in an area believed to be under a flight path of a North Korean rocket that will carry the satellite.

    He also ordered the deployment of destroyers equipped with SM-3 ship-to-air missiles to coastal waters, according to a ministry statement.

    The ministry confirmed that “We are making the necessary preparation because of a possibility of issuing an order to destroy ballistic missiles and other objects.”

    North Korea says its latest spate of missile tests, which included the test-firing of a solid-fueled intercontinental ballistic missile for the first time last week, is in response to major joint US-South Korean drills which threaten the peace and stability of the region. 

    Given the current tensions, Japan is leaving nothing to chance, and preparing for more unpredictable rocket launches out of North Korea at any moment.

    Tyler Durden
    Sat, 04/22/2023 – 22:00

  • US Tries To Blame Russia For Sudan "Deep State" War
    US Tries To Blame Russia For Sudan “Deep State” War

    Authored by Andrew Korybko via The Automatic Earth blog,

    Debunking The Latest Fake News Narrative

    CNN published an exclusive piece on Thursday alleging that “Evidence emerges of Russia’s Wagner arming militia leader battling Sudan’s army”. They claim that satellite imagery shows increased Russian military transport activity between Libya and Syria in the run-up to Sudan’s “deep state” war. According to CNN, this confirms rumors that General Haftar is supplying Rapid Support Forces’ (RSF) leader General Mohamed Hamdan Dagalo (“Hamedti”) with surface-to-air missiles (SAM) on behalf of Wagner.

    The Wall Street Journal (WSJ) published their own exclusive piece the day prior on Wednesday alleging that “Libyan Militia and Egypt’s Military Back Opposite Sides in Sudan Conflict”, so these two stories complement one another. Both Hamedti and Wagner have denied these claims, however. The Sudanese Ambassador to Russia also confirmed that “Russia is a friendly country to us so we have been in direct contact with [the] Russian Foreign Ministry since the very beginning of those events last Saturday.”

    That diplomat’s reaffirmation of Sudan’s close ties with Russia is especially important since he represents the government that’s internationally recognized as being led by Chief General Abdel Fattah Al-Burhan, who commands the Sudanese Armed Forces (SAF) and is one of the two figures vying for power. At present, Khartoum therefore doesn’t extend credence to the emerging US-led Western Mainstream Media (MSM) narrative that Russia is arming the RSF via Haftar-Wagner, but that could soon change.

    Preconditioning The Public For Another Proxy War

    Unless the present three-day Eid ceasefire holds and leads to the start of peace talks that ultimately end this “deep state” war, which is unlikely since both sides made clear their intent to completely destroy the other, then this conflict is expected to resume in the near future. Should the SAF fail to defeat the RSF and possibly even be placed on the backfoot, then Burhan might gamble that it’s in his best interests to parrot the MSM’s anti-Russian accusations in an attempt to receive direct Western military support.

    That scenario isn’t all that far-fetched either considering that the Associated Press and Politico both cited unnamed officials on Thursday to report that the US is assembling additional troops in nearby Djibouti to prepare for the possible evacuation of Americans from Sudan. This pretext could easily be exploited to arm the SAF and/or attack the RSF, especially if the Pentagon claims that the latter tried stopping its operation by building upon last week’s claim that its forces shot at an armored US diplomatic vehicle.

    In the event that Burhan repeats the MSM’s emerging anti-Russian narrative and promises to rubbish Sudan’s naval base deal with Moscow upon defeating the RSF, then the Biden Administration can “justify” its military intervention on the basis of “defending Sudanese democracy from a Kremlin coup”. The public would then be told that the latest conflict was sparked by Russia’s support for the “insurgent” RSF, which the MSM would attribute to its interests in defending Wagner’s mining operations there.

    American Meddling In Russian-Egyptian Relations

    This would predictably precede an unprecedented but preplanned information warfare campaign painting Russia as a “destabilizing” force in Africa, which would be aimed at counteracting its hitherto highly successful efforts at presenting itself as a force of stability in support of legitimate governments. The purpose of this aforesaid operation would be to erode Russia’s newfound “Democratic Security” appeal across the continent with a view towards reversing the decline of Western influence there.

    Furthermore, Burhan’s potentially opportunistic piggybacking on the earlier described emerging anti-Russian narrative could have serous implications for Moscow’s ties with Cairo due to the perception of them backing opposite sides in Sudan’s “deep state” war. Russian-Egyptian relations have recently been beset by scandal upon the latest Pentagon leaks alleging that Cairo abandoned its supposedly secret plan to supply rockets to Moscow under pressure from Washington and agreed to arm Kiev instead.

    Considering this context, the scenario of Egyptian-backed Burhan blaming Russia for sparking the latest conflict could therefore lead to the rapid deterioration of Russian-Egyptian ties, especially if Cairo decides to indirectly retaliate against Moscow by curtailing its investment rights in Port Said. Those two signed an additional agreement on this industrial zone last month, which was first approved in 2018 and is supposed to help Russia expand its economic engagement with the broader region.

    Punishing The Emirates For Its Close Relations With Russia

    That goal could be jeopardized if Egypt decides to punish Russia through these means in response to Burhan opportunistically piggybacking on the MSM narrative in an attempt to obtain direct Western military support against the RSF. Furthermore, the UAE’s ties with Egypt and the US could also become much more complicated in that event too since Abu Dhabi is accused of backing reportedly RSF-allied Haftar, being favorable disposed to that armed Sudanese group, and secretly allying with Russia.

    The last-mentioned accusation was brought to the public’s attentions as a result of the previously mentioned Pentagon leaks, which were denied by the UAE but coincided with the weakening of its ties with Washington that are partially over that Gulf country’s growing ones with Moscow. There are more factors at play than just the Russian-Emirati relationship, but the point is that the UAE’s problems with the US could be amplified by the MSM if Burhan accuses Russia of arming the RSF via Haftar-Wagner.

    It also deserves mentioning that America’s other ulterior interest in its incipient propaganda campaign against Russia in Sudan is to complicate its geopolitical opponent’s logistical connections with the Central African Republic (CAR), which owes its continued existence as a state to Moscow’s military support. The Kremlin largely relies on transit across Sudan in order to supply its forces and its ally’s there, but this could be cut off if Burhan jumps on the anti-Russian bandwagon and revokes Moscow’s privileges.

    The Chadian Connection

    Lastly, another strategic factor behind this latest information warfare offensive against Russia is that it could ruin that country’s surprisingly solid relations with regional military heavyweight Chad. As explained in this recent analysis here, N’Djamena ended up expelling the German Ambassador earlier this month for meddling instead of the Russian one despite the US telling its counterparts in late February that Moscow is using Wagner in the CAR and Libya to arm anti-government rebels against it.

    The Associated Press cited an African analyst from a Western risk assessment firm in their article on Thursday about 320 SAF troops fleeing to Chad to claim that this development could prompt N’Djamena into taking those forces’ side in Sudan’s “deep state” war. According to Benjamin Hunter, “N’Djamena is likely to oppose (Dagalo) due to fears that RSF dominance in Darfur could empower Chadian Arabs to unseat the (president’s) regime. Many within (Dagalo’s) Rizeigat tribe live across the border in Chad.”

    If Chad becomes embroiled in Sudan’s “deep state” war on Burhan’s side, then it might be susceptible to Western suggestions that jumping on the anti-Russian bandwagon like he would have already done in this scenario could lead to them suspending their regime change campaign against N’Djamena. Should that happen, then this regional military heavyweight might also support any potentially forthcoming rebel/terrorist offensive that its historical French partner could soon plot against Russia in the CAR.

    Concluding Thoughts

    Putting everything together, the US plans to achieve the following strategic objectives by introducing the narrative that Russia is arming the RSF:

    1. Entice Burhan to extend credence to these claims in exchange for US military support;

    2. Demand that he also rescinds Russia’s naval base rights and cuts off its overflight access to the CAR;

    3. Consider direct support to the SAF on the pretext of commencing an “evacuation operation” in Sudan;

    4. Discredit Russia and the UAE’s African engagement policies by framing both as “destabilizing forces”;

    5. Attempt to provoke a crisis in Russia’s relations with Sudan’s Chadian and Egyptian neighbors;

    6. Exploit the above scenario to assemble a regional coalition for pushing back against Russia in Africa;

    7. Encourage Chad to support a French-backed rebel/terrorist offensive in the Russian-allied CAR;

    8. Plot a copycat proxy war in Russian-allied Mali in order to crush the Kremlin’s influence in the Sahel;

    9. Perfect this new Hybrid War method prior to employing it all across the continent;

    10. And thus turn Africa into the top proxy war battleground of the New Cold War.

    The US therefore has many reasons to push this fake news campaign, though it’s unclear whether it’ll ultimately achieve any of its envisaged objectives or not.

    *  *  *

    Support the Automatic Earth on Patreon.

    Tyler Durden
    Sat, 04/22/2023 – 21:30

  • "Entire Downtown Is Effectively Dead:" Baltimore City Descends Further Into Turmoil
    “Entire Downtown Is Effectively Dead:” Baltimore City Descends Further Into Turmoil

    Downtown Baltimore is plagued with shootings, carjackings, muggings, and out-of-control packs of teenagers wreaking havoc. Baltimore residents can thank five decades of Democrat politicians for mismanaging this once-thriving town. 

    Earlier this month, the Inner Harbor district was overrun by hundreds of teenagers that resembled an apocalyptic scene from a Hollywood or Netflix movie. The video below might provide some insight into why people are shunning the area, which caused a plunge in foot traffic, making it difficult for retail stores to survive.

    https://platform.twitter.com/widgets.js

    This leaves us with local media outlet Baltimore Brew’s reporting about a mall situated on the waterfront, once popular with tourists and residents, had lots of activity, and is now nothing more than a ghost town. 

    “I knew this place had gone down. But I didn’t know it was this bad!” exclaimed Patel, a California software engineer who recalled eating at a restaurant in the waterfront mall about a decade ago. He said, “I remember it being pretty nice back then.”

    All that’s left of the mall is a Hooters restaurant. Baltimore Brew’s pictures show almost every other store has moved out.

    … and now, as the media outlet explains, what to do with this prized piece of commercial real estate? 

    That’s the question before Mayor Brandon Scott and other city leaders, who yesterday gave Harborplace’s new owner, MCB Real Estate, three years to figure out a plan.

    Among the other terms of the amended lease that the Board of Estimates approved were three years of rent abatement and up to $1 million for future planning and other costs.

    MCB co-founder P. David Bramble says he needs more time to devise a turnaround strategy. The board members who approved the deal did so without questions or comments. (Scott himself was absent from the meeting, attending an African American Mayors Association conference in Washington instead.)

    “The entire downtown area is effectively dead,” one person said who commented on Baltimore Brew’s article. They pointed out:

    “Who in their right mind would want to risk coming downtown when the news out of Baltimore is all about shootings, carjackings, mugging, and out-of-control packs of teenagers milling about on a semi-regular basis?”

    Democrats and progressive leadership in the city have done a wonderful job of taking something nice and destroying it with terrible policy. The consequence is an exodus of businesses, and it’s not just a Baltimore problem. Metro areas with progressive leadership, like Chicago, San Francisco, and Portland, are finding businesses are leaving in droves. 

    Tyler Durden
    Sat, 04/22/2023 – 21:00

  • First Smart Gun With Fingerprint Unlocking Hits The Market
    First Smart Gun With Fingerprint Unlocking Hits The Market

    Authored by Emily Miller via The Epoch Times (emphasis ours),

    The first so-called “smart gun” that uses biometrics to unlock for shooting will hit the market at the end of the year.

    Biofire Technologies announced this month that it is taking pre-orders for its home defense gun that is intended to prevent unwanted access to children and criminals. This is either a big step forward in gun safety or a gimmick with unreliable technology, depending on who you ask.

    A gun salesman holds a Walther PDP Pro 9mm handgun at Lawful Defense in Gainesville, Fla., on April 19, 2023. (Nanette Holt/The Epoch Times)

    Futuristic Gun

    Smart guns, otherwise known as personalized handguns, have been in development for many years. The CEO and Founder of Biofire Technologies, Kai Kloepfer, told The Epoch Times in an interview that this is the first “major innovation in how a handgun has been designed or manufactured in 50 years.”

    Kloepfer, 26, has been working on designing a smart gun since he was a teenager. “This is a new option for gun owners to give them peace of mind that their children or criminals won’t get their hands on it.”

    The Biofire Smart Gun is a handgun that can be stored with fingerprints and 3D facial recognition to unlock it to shoot. The company says unlocking works in the dark. The data is stored in the gun in encrypted form. The gun can have biometrics for up to five total authorized users.

    The Biofire gun has integrated infrared sensors in the grip to keep it armed while the user is holding it. As soon as the grip is released, the gun locks. It is powered by a rechargeable lithium-ion battery that Biofire says lasts several months with average use and can fire continuously for several hours. The firearm only comes in 9mm caliber, but buyers are given multiple choices for color and style and left- or right-handed.

    Kloepfer, who said he owns a lot of regular guns, said his product gives people an option for a “new and better choice.”

    Reliable Technology?

    Gun rights groups have been leery that biometrics can function perfectly in self-defense scenarios. The National Shootings Sports Foundation (NSSF) represents gun manufacturers. Biofire is a member.

    Firearms are tools that individuals rely upon to save their lives and the lives of their loved ones. That necessitates a firearm to work, as designed, each and every time,” Mark Oliva, NSSF’s director of public affairs, told The Epoch Times. “Additional points of failure, including authorized-user technology, are concerns for gun owners. If that technology fails, that could be catastrophic for an individual depending upon it to save his or her life.”

    The National Rifle Association (NRA) warns the stress of real life is different than product testing.

    Read more here…

    Tyler Durden
    Sat, 04/22/2023 – 20:30

  • Anti-CRT Measures Adopted By 28 US States
    Anti-CRT Measures Adopted By 28 US States

    More than half of U.S. states have passed measures against the teaching of critical race theory – for example in schools or government employee trainings. Another dozen have seen successful initiatives on a smaller scale, with single cities, counties or school districts (or both) establishing such laws and directives. This is according to a tracking project at the University of California Los Angeles law school.

    Infographic: Anti-CRT Measures Adopted by 28 U.S. States | Statista

    You will find more infographics at Statista

    Additionally, as Statista’s Katharina Buchholz reports, almost all states that haven’t yet passed any such measures have seen them proposed on the state level, the exceptions being California, Vermont and Delaware.

    In California, however, several school districts have already decided to prohibit or limit the teaching of critical race theory, including in Orange county and Paso Robles.

    A few states with no finalized laws or directives on any level remain: They are Illinois, Nevada, Vermont, Delaware, Maine, Massachusetts, Rhode Island, Connecticut, New Jersey and Hawaii.

    The newly released report State of Black America by the National Urban League identifies 567 anti-CRT laws introduced in the U.S.

    In the opinion of the report, the limitation on CRT are limiting the civil rights of Americans, including Black Americans.

    Critical Race Theory is a framework that sees race not mainly as a biological factor, but as a social construct and sees racism not only as an individual’s biases but as embedded in society.

    Tyler Durden
    Sat, 04/22/2023 – 20:00

  • Feds Have No Data On How Regulations Reduce Emissions: Audit Finds
    Feds Have No Data On How Regulations Reduce Emissions: Audit Finds

    Authored by Marnie Cashcart via The Epoch Times,

    The federal government does not know the extent that regulations are reducing greenhouse gas (GHG) emissions, despite committing $200 billion towards the issue.

    Jerry DeMarco, commissioner of the Environment and Sustainable Development, holds a press conference in Ottawa on April 20, 2023. (The Canadian Press/Sean Kilpatrick)

    An April 20 report released by the Commissioner of the Environment and Sustainable Development, Jerry DeMarco, indicates that Environment and Climate Change Canada does not attribute emission results to specific regulations.

    The federal department does not measure, or report on, the contributions of each regulation toward meeting the set target for 2030. An audit by the commissioner concluded that Environment Canada “used modelling approaches to estimate greenhouse gas emission reductions.”

    The federal government does not know if regulations to limit methane emissions are achieving their target, said the report. The audit found that large sources of methane emissions were unaccounted for in inventories and not covered by any existing regulations.

    The audit considered five regulations with the stated intent to reduce emissions from vehicles on the road, power plants, and oil and gas production.

    DeMarco concluded, “Without comprehensive impact information, the federal government does not know whether it is using the right tools to sufficiently reduce emissions to meet its target.”

    The audit suggested some regulations, targeted at reducing emissions from power generation, achieved the targeted level, while regulations intended to reduce vehicle emissions failed to meet their target.

    “Although greenhouse gas emissions from passenger cars decreased, this was offset by even larger increases in emissions for light trucks and heavy-duty vehicles, such as school and transit buses and freight, delivery, garbage, and dump trucks,” said the report.

    The audit also said the government took “too long to develop regulations given the urgency of the climate crisis.” The report was critical that it took more than five years to develop the Clean Fuel Regulations, which was double the initial plan.

    The Liberals first promised to plant 2 billion trees by 2031 on the campaign trail in 2019, and said the country would cut emissions from 42 to 45 percent lower than 2005 levels. The country only cut 8.4 percent of emissions between 2005 and 2021, according to the most recent national greenhouse gas inventory report.

    The audit found the country isn’t on track to plant even one-tenth of the promised trees by the deadline, despite a $3.2 billion allocation in the 2020 fall economic statement.

    “There is no solution to climate change and terrestrial biodiversity loss that does not include forests,” DeMarco’s report said.

    “It is unlikely that the two billion trees program will meet its objectives unless significant changes are made.”

    On the emissions front, the audit indicates the federal government committed to eliminating 2 million tonnes of greenhouse-gas emissions yearly, by 2030. Now the Liberal government said it will not start reducing emissions until 2031, at the earliest.

    Tyler Durden
    Sat, 04/22/2023 – 19:30

  • New York's Democrat Mayor Says Migrant Crisis Has 'Destroyed' The City, Biden Admin Has 'Turned Back'
    New York’s Democrat Mayor Says Migrant Crisis Has ‘Destroyed’ The City, Biden Admin Has ‘Turned Back’

    The Mayor of New York City says that the illegal immigration crisis has ‘destroyed’ his city, and noted that the Biden administration has done nothing to help deal with the problem they created.

    The city is being destroyed by the migrant crisis,” said Mayor Eric Adams (D) in a Friday panel discussion hosted by the African American Mayors Association in Washington D.C.

    Adams’ comments came one day after he signed an executive order which extended the state of emergency in NYC over the influx of illegal immigrants.

    “The City now faces an unprecedented humanitarian crisis that requires it to take extraordinary measures,” reads the order.

    According to city Comptroller Brad Lander in an April 7 report, the city has had to ramp up its provisions for shelter by over 75% due to the influx of more than 55,000 foreigners claiming to be seeking asylum over the past year.

    Meanwhile, the Mayor’s Office of Management and Budget says that the full cost of providing shelter and other services to refugees is around $1.4 billion this year, and will be $2.8 billion in 2024.

    “New York State and (to a lesser extent) the federal government have begun to offer some assistance, though less than their appropriate share. But even with federal and state support, the current approach is beyond what the City of New York can reasonably sustain,” wrote Lander.

    Adams on Wednesday slammed the Biden administration for leaving New York City high and dry when it comes to the influx of illegals.

    “The national government has turned its back on New York City,” Adams said during a City Hall press conference. “We’re here today telling the White House we have been extremely patient. We’ve allowed the coordination of all of our agencies to come together to deal with this response.”

    This is in the lap of the president of the United States.

    Adams also expressed concern over the Biden administration trying to get rid of Title 42, a Trump-era policy that allows the US to rapidly expel migrants who have entered the country illegally, warning that “52,000 [asylum seekers] could jump to 100,000 if we don’t get this under control.”

    Adams’ administration has proposed measures that include providing access to humanitarian parole for illegal immigrants, including expediting work authorization.

    New York officials have said that they’ve received around $8 million from state and federal sources, which pales in comparison to the over $4 billion in related expenses the city is expected to incur through 2024 due to the migrant influx. -Epoch Times

    In his April 20 executive order, Adams said that the thousands of illegals which have flooded New York City have created an “unprecedented humanitarian crisis.”

    Tyler Durden
    Sat, 04/22/2023 – 19:00

  • Bragg Drops Case Against Jordan, Allowing House GOP To Depose Ex-Manhattan Prosecutor
    Bragg Drops Case Against Jordan, Allowing House GOP To Depose Ex-Manhattan Prosecutor

    Authored by Gary Bai via The Epoch Times (emphasis ours),

    Manhattan District Attorney Alvin Bragg has dropped his effort to quash a congressional subpoena to a former prosecutor who worked in his office, a congressional aide told The Epoch Times in a statement on Friday.

    “This evening, the Manhattan District Attorney’s Office withdrew its appeal in Bragg v. Jordan. Mr. Pomerantz’s deposition will go forward on May 12, and we look forward to his appearance,” Russel Dye, spokesperson for Rep. Jim Jordan (R-Ohio), chair of the House Judiciary Committee, wrote to The Epoch Times in a statement.

    Bragg caved. Jim Jordan won,” the House Judiciary Committee wrote in a statement on Twitter Friday.

    L: Manhattan District Attorney Alvin Bragg outside the Manhattan Federal Court in New York, April 4, 2023. (Angela Weiss/AFP via Getty Images) R: Rep. Jim Jordan (R-Ohio) in Washington, on July 21, 2021. (Anna Moneymaker/Getty Images)

    The development wrapped up a legal clash between Bragg and House Judiciary Republicans, whereby Bragg had attempted to stop the lawmakers from requesting testimony from Mark Pomerantz, a former prosecutor who investigated former President Donald Trump’s finances. Pomerantz left Bragg’s office in February 2022 in protest of Bragg’s initial unwillingness to bring an indictment against Trump.

    A grand jury, encouraged by Bragg, brought an indictment against Trump in late March, prompting Jordan to initiate a probe into what he calls a “politically motivated” prosecution against a former president. Jordan subpoenaed Pomerantz to seek his testimony as a part of that probe. In response, Bragg sued the House Judiciary Committee and Pomerantz to prevent Pomerantz from testifying.

    That lawsuit led to a hearing on Wednesday in the Southern District Court of New York, and a subsequent decision by District Judge Mary Kay Vyskocil, a Trump appointee, ordered that the congressional panel has the authority to become involved in the investigation of Trump and declined Bragg’s request for a court injunction on the congressional subpoena.

    Bragg wrote in a court filing that he intended to appeal the lower court’s decision to the 2nd Circuit Court of Appeals on April 19. On the same day, the court issued a temporary administrative hold on the return date of the House Judiciary Committee’s congressional subpoena of Pomerantz. This administrative hold did not reflect the court’s opinion on the merit of Bragg’s case, the court indicated in an April 19 filing, but serves as a short pause as the court considers whether to extend the freeze on the subpoena as Bragg appeals the case.

    A three-judge panel was originally scheduled to decide early next week on this matter.

    Bragg on Friday dropped the appeal, wrapping up the legal contention between him and the House lawmakers.

    “Our successful stay of this subpoena blocked the immediate deposition and afforded us the time necessary to coordinate with the House Judiciary Committee on an agreement that protects the District Attorney’s privileges and interests. We are pleased with this resolution, which ensures any questioning of our former employee will take place in the presence of our General Counsel on a reasonable, agreed upon timeframe. We are gratified that the Second Circuit’s ruling provided us with the opportunity to successfully revolve this dispute,” Bragg’s office wrote in a statement on Friday on Twitter.

    Judge’s Comments

    During the district court hearing on Wednesday, the court affirmed the congressional lawmakers’ position that requesting Pomerantz’s testimony serves a valid legislative interest and that Pomerantz, due to his own conduct, is not protected by confidentiality privileges.

    In her order, Vyskocil agreed with the congressional lawmakers’ reasoning that testimony by Pomerantz can help inform current and pending legislation. This includes a bill that, if enacted into law, would bar the use of federal funds to investigate a sitting or former president (the Accountability for Lawless Violence In our Neighborhoods, or ALVIN, Act) and another that would allow Congress to remove an action or prosecution against a former president (H.R. 2553).

    It is not the role of the federal judiciary to dictate what legislation Congress may consider or how it should conduct its deliberations in that connection,” the judge wrote, adding that the U.S. Constitution protects lawmakers from litigation when their actions serve a valid legislative interest.

    Read more here…

    Tyler Durden
    Sat, 04/22/2023 – 18:30

  • A Pyrrhic End To 130 Years Of Vicious Bad Money And Banking Crises
    A Pyrrhic End To 130 Years Of Vicious Bad Money And Banking Crises

    Authored by Brendan Brown via The Mises Institute,

    The original vicious circle starts with inflationary interventions in an up-to-then well-anchored monetary regime.

    Consequent asset inflation spawns a banking crisis. That leads to the installation of anticrisis safety structures (one illustration is a novel or enhanced lender of last resort). Alongside a possible monetary regime shift, these damage the money’s anchoring system. A great asset inflation emerges and leads on to an eruption of another banking crisis, devastating in comparison with the first.

    An array of additional safety structures is put in place which makes the now-bad money worse than before. After a long and variable lag, a long and violent monetary storm means the safety structures fail, a banking crisis again erupts but this time milder than the previous.

    Then a further tinkering with the safety structures causes money to deteriorate even more in quality. Another shift in monetary regime coincidentally does much additional damage. Consequently, in time, a new crisis erupts much worse than the last one.

    The safety engineers do more work, causing yet more damage to the mechanisms essential to sound money. But now the safety structures are so pervasive and strong across the banking industry that there is widespread belief that bank crisis eruptions will be smaller or, more likely, totally repressed.

    Subsequent events demonstrate those beliefs to be hollow. There is a new round of safety structure elaboration leading to further monetary deterioration. Regime officials declare the end of bank crises.

    The cumulative economic cost of this vaunted triumph over bank crisis is an advance of monopoly capitalism and monetary statism that throttles the essential dynamism of free market capitalism. Malinvestment becomes cumulatively larger. Living standards in general suffer. The severely ailing money which subsists is beyond any cure except the most radical.

    Let’s fit the above abstract series of vicious bad money–bank crisis cycles to the most recent 130-year history of US money.

    At the start there were the inflationary interventions by US administrations in the two penultimate decades of the international gold standard, overpowering for sustained periods the “checks and balances” of that regime.

    Murray Rothbard highlights these interventions in his US monetary history book – the first intervention under the “Billion Dollar Congress” of 1889–91 and the second from 1902–7 under Secretary Leslie Shaw who aimed to create a virtual central bank within the Treasury by deploying the huge cash balances of the federal government. The results were the Panic of 1893 and then the epic crash of 1907 followed by a recession.

    These financial system convulsions and the related economic slumps were decisive events behind the creation of the Federal Reserve in 1913. Its advocates promised that an elastic currency, a state-run clearing house, and a monopoly of note issuance would mean the end of episodic banking crises.

    The true source of these crises, however, were the preceding episodes of monetary inflation, and the scope for this crisis just got a lot worse. The international gold standard disintegrated at the outbreak of World War One. Demand for monetary gold in the belligerent European countries collapsed as governments there sequestered the yellow metal to pay for imports.

    Beyond that wartime experience, the launch of the Fed destabilized the demand for monetary base. The novel provision of lenders of last-resort facilities and, more generally, discount window-access to member banks diluted the perceived special qualities of the monetary base (as means of payment and store of value) essential to its enjoying strong, broad, and stable demand despite its constituents bearing no interest. These “super money” qualities are crucial to monetary base’s role in the solid anchoring of money.

    In the wake of the immediate postwar depression in 1920, during which no banking crisis erupted, opinion was prevalent that the institution of the Federal Reserve meant no more systemic bank runs and panics. Correspondingly, individuals saw less reason to hold large amounts of cash or types of deposits that were backed by large amounts of cash, gold, or reserve deposits. Hence, though monetary base growth seemed low and stable through what Milton Friedman misleadingly describes as “the high tide of the Federal Reserve” in 1922–27, monetary conditions were, in fact, highly inflationary. This did not show up in average consumer prices in that the economic miracle of the second industrial revolution meant there was a powerful natural rhythm downward of costs in tune with rapid productivity growth.

    The result: a great asset inflation and then a subsequent bust, featuring three back-to-back recessions which together formed the so-called Great Depression; the last two of these were marked by convulsive waves of bank failures. This culminated in the New Deal shift of monetary regime, including exit from gold, deposit insurance, and swathes of new bank regulations. The bad money of the 1920s got a lot worse – amidst further dilution of its base’s qualities and a vast expansion of the US monetary base from 1934 to early 1936.

    The interlude of wartime inflation and subsequent economic miracle in the US, Europe, and Japan for long stages meant that the vicious bad money–bank crisis circle was in suspense until well on into the “greatest peacetime inflation” (from the mid-1960s to the start of the 1980s). Fast-forward to the eruption of the US banking crisis at the start of the 1980s as the bubble in lending to Latin America (a key symptom from the mid-1970s’ asset inflation) burst. The Fed’s and Treasury’s rescue of large US banks ended the brief US monetarist experiment of targeting the monetary base. Dollar devaluation fueled by Fed inflation following the Plaza Accord in 1985 spawned an asset inflation culminating in the savings and loan debacle and banking crisis in Japan, France, and Scandinavia.

    By the early- to mid-1990s, recent examples of the Fed and US government assisting banks in crisis had further diluted the perceived qualities of the monetary base. In consequence, sound money, which depends on a functional monetary base whose supply is highly restricted, had become even more remote. Coincidentally, a shift in US (and European) monetary regime was under way, to the so-called 2 percent inflation standard, with the Fed abandoning any remnants of money supply targeting.

    All this led on to a virulent episode of monetary inflation, featuring most directly asset inflation which became the source of the next great banking crisis in 2008–12. A swathe of new banking regulations followed. These came in combination with “monetary reforms”—crucially including interest paid on reserve and quantitative easing—which though ostensibly designed to fortify the banking system, in fact, caused already bad money to become even more unsound. Hence, the reforms laid the foundation for further banking crises which erupted in the aftermath of the great monetary inflation during the pandemic and the onset of the Russia-Ukraine war.

    The response to this most recent banking crisis: “too big to fail” extended to deposits of all banks, at least those deemed by highly politicized opinion to be of “systemic relevance”; speculation about vastly increased deposit insurance; and promised new regulations across medium and small banks. The net consequence: a further dilution of any remaining special qualities of reserve deposits.

    Reconstituting a functional monetary base as essential to a sound money system would now require radical reform. Money is set to deteriorate in quality yet again—more statist, more regulation, less competition amongst the institutions which produce it in its various forms for the public.

    Could state-administered safety structures in the banking system now become so omnipresent that the next asset inflation would not culminate in crisis?

    Essential flaws of regulation and the likely virulence of future asset inflations make that outcome unlikely.

    Meanwhile, expect official silence about the cumulative costs of the anticrisis “infrastructure” whether in the form of advancing monopoly capitalism, reducing economic dynamism, ever-worse malinvestment, bigger government, and ever-more pervasive crony capitalism.

    Tyler Durden
    Sat, 04/22/2023 – 17:30

  • Airman's Leaks Started Just 48 Hours After Russia Invaded Ukraine
    Airman’s Leaks Started Just 48 Hours After Russia Invaded Ukraine

    The Pentagon’s humiliation just grew deeper, as it turns out National Guard Airman Jack Teixeira’s leaks of classified documents started far earlier than has previously been reported. 

    Tipped off about a second, 600-member Discord chat group where Teixeira also posted, the New York Times found the Massachusetts Air National Guard information technology specialist started sharing information about the war in Ukraine within 48 hours of Russia’s February 2022 invasion. In contrast to the previously reported chat group, this one was far larger and was publicly listed on a YouTube channel. 

    This development makes the intelligence community’s failure to discover the posts all the more embarrassing: The document used to criminally charge Teixeira says he started posting in December 2022, but it turns out his stream of leaks spanned 13 months

    The Times matched Teixeira to the account in the newly-publicized chat room by a variety of means, including the user name, photos he posted that match known photos of his family home’s interior, a reference to his birthday, and, not least, the user’s declaration that he worked in an Air Force intelligence unit. 

    Teixeria’s senior quote in the 2020 high school yearbook at Dighton-Rehoboth Regional High School in Massachusetts (Taunton Daily Gazette)

    The posts reviewed by the Times were detailed descriptions of classified documents, with the user believed to have also posted photos of documents that have since been deleted. 

    Teixeira jumped into leak mode just two days after the Russian invasion, posting, “Saw a pentagon report saying that ⅓rd of the force is being used to invade.” When others in the chat room questioned his information, he wrote, “I have a little more than open source info. Perks of being in a USAF intel unit.”

    In a March 27, 2022 post in which he said he was citing “an NSA site,” Teixeira told the group Russian forces were about to pull back from Kiev: “Some ‘big’ news. There may be a planned withdrawal of the troops west of Kiev, as in all of them.” Two days later, Russia announced it was doing just that. 

    “The job I have lets me get privilege’s above most intel guys,” he boasted with imperfect punctuation. When another chat participant cautioned him not to abuse those privileges, Teixeira fittingly replied, “Too late.” 

    Teixeira was arrested on April 13 at his mother’s North Dighton MA home

    Teixeira appears to have made some posts while on duty at the 102nd Intelligence Wing, the unit he was assigned to at Otis Air National Guard Base on Cape Cod. Once, he told the chat room he was about to enter a SCIF, or Sensitive Compartmented Information Facility. In the aftermath of the leaks’ discovery, the Air Force temporarily stripped the 102nd of its intelligence mission — (which is pretty bad when “intelligence” is in your unit’s name).  

    In the larger chat group that’s been previously reported, Teixeira announced the end of his information-sharing services on March 19: “I was very happy and willing and enthusiastic to have covered this event for the past year and share with all of you something that not many people get to see. I’ve decided to stop with the updates.”

    https://platform.twitter.com/widgets.js

    While establishment newspapers are eagerly beating the government to the punch at every turn in this case, the next significant drop of government information could come at a pretrial detention hearing, which on Wednesday was postponed for two weeks to May 3, at defense counsel’s request.

    So far, Teixeira’s been charged with unlawful retention and transmission of national defense information and unauthorized removal and retention of classified documents. Two guilty verdicts could put him in prison for up to 15 years.  

    In what sounds like it might just be a comically absurd attempt to portray Teixeira as a Russian asset, prosecutors this filed new information with the court, noting that he once shot a vintage Soviet pistol.

    Tyler Durden
    Sat, 04/22/2023 – 17:00

  • The Real Reason Behind China’s $10 Billion Offer To Taliban For Lithium
    The Real Reason Behind China’s $10 Billion Offer To Taliban For Lithium

    Authored by Venus Upadhayaya via The Epoch Times (emphasis ours),

    A Chinese company has offered the Taliban $10 billion and a proposal to build key strategic infrastructure connecting north-south Afghanistan in exchange for access to the country’s lithium reserves. Some experts raised concerns that the offer would allow the Chinese regime to expand its influence in the region.

    Afghanistan’s acting first deputy prime minister Abdul Ghani Baradar (L) and China’s ambassador to Afghanistan Wang Yu in Kabul on Jan. 5, 2023. (Ahmad Sahel Arman/AFP via Getty Images)

    The proposal was discussed between a representative of Gochin and the acting minister of the Taliban’s Ministry of Mines and Petroleum, Sheikh Hadith Shahabuddin Delawar, in his office on April 13. The talks happened just a few months after the Taliban arrested two Chinese nationals trying to smuggle 1,000 metric tons of lithium-bearing rocks out of the country.

    Experts said it needs to be seen if the deal is feasible, but once signed, it will have diplomatic and political ramifications, and the proposed infrastructure development will likely have a long-term strategic impact.

    Geopolitically, this deal could give China a significant advantage and influence in the region, as it secures a supply of critical resources and strengthens its presence in Afghanistan,” Maher Saadat, an exiled activist and Afghan affairs analyst, told The Epoch Times in an email.

    Afghanistan’s lithium reserves potentially rival those of Bolivia, which has the world’s most significant amount of lithium resources. The Taliban’s Ministry of Mines and Petroleum said in a press release that the deal, once executed, will provide direct employment to 120,000 people and indirectly to 1 million.

    Abhishek Darbey, a research associate of the Chinese Research Program at the New Delhi-based Center for China Analysis and Strategy (CCAS), pointed out to The Epoch Times in an email that China is among the first countries that supported the Taliban to form a government in Kabul following the withdrawal of the United States from the country. He believes the Chinese regime wants to control the region.

    “In the case of Afghanistan, the country is important for China because the land domain of the Belt and Road Initiative will pass through this region, and a peaceful Afghanistan will create favorable conditions for the BRI to grow and progress,” he said.

    “Also, China considers itself to be a major power of the region and, therefore, it wants to be a participant in [the] decision-making of the region or wants to be a power with a capacity to influence the regional politics,” he added.

    Chinese Foreign Minister Wang Yi meets with Mullah Abdul Ghani Baradar, political chief of Afghanistan’s Taliban, in Tianjin, China, on July 28, 2021. (Li Ran/Xinhua via Reuters)

    Lithium for the Taliban

    Afghanistan’s lithium reserves are a quick source of money for the Taliban, but they don’t have a long-term strategic goal for it, according to the experts.

    “They may view it as an opportunity to generate immediate revenue to fund their activities and consolidate their power, given their history of relying on various sources of illicit financings, such as drug trafficking and extortion,” Saadat said.

    The Taliban’s focus on immediate financial gains—without considering the long-term implications and sustainable development of the lithium deposits—is likely to limit the potential benefits of the reserves for Afghanistan and its people, he said.

    “[It] will not contribute to the overall socio-economic development and stability of the country with certainty,” he said.

    The first lithium mine was discovered in Ghazni city in 2013. These rare mineral mines are located in five areas in Afghanistan: Herat, Shuryak Valley, Tagab District in Kapisa Province, Nawur District in Ghazni Province, and Badakhshan.

    Darbey said the Chinese interest in the region is not new—in 2021, two Chinese companies were sent to Ghazni to conduct technical research and inspect lithium and goldmines.

    While China’s lithium reserves are depleting, the Afghan deposits are unexploited. Five Chinese companies have set up their representative offices in Afghanistan, and around 20 Chinese companies have made inquiries about lithium projects, according to Darbey.

    Delawar said that the contract of the mines in Afghanistan would be given according to the Taliban’s law.

    Darbey pointed out that the Taliban government is already supporting Chinese investment in its wider mining sector, and China’s two largest lithium miners—Tianqi and Ganfeng—have already examined the lithium mines in Afghanistan.

    Read more here…

    Tyler Durden
    Sat, 04/22/2023 – 16:30

  • FBI Blocking Release Of Nashville Trans Shooter's Manifesto
    FBI Blocking Release Of Nashville Trans Shooter’s Manifesto

    If the Nashville shooter had been a straight constitutional conservative would the FBI be blocking the killer’s manifesto, or would it be scrutinized for months on every mainstream media platform from day one?

    The question is important because it illustrates the discomforting double standards in play whenever a mass murder is committed by a person on the political left (and there have been many lately).  If the manifesto outlines ideologically motivated intent then the actions of Audrey Hale, a biological woman identifying as male, could be labeled a terrorist act.  However, if the manifesto stays locked away from the public then there will always be suspicions but never any confirmation.  Certain political groups and activist groups benefit greatly from the suppression of Hale’s motives.

    Rep. Tim Burchett, (R-Tenn.) told The New York Post he knew the FBI was behind the delay of the manifesto’s release, saying the news was “disappointing.”     

    Twenty journals, five laptops, a suicide note and various other notes written by Hale were seized from the house she shared with her parents as well as two memoirs, five Covenant School yearbooks and seven cellphones, according to a search warrant.

    Metro Nashville Council Member Courtney Johnston states that the FBI has ruled out releasing the manifesto anytime soon.

    “What I was told is, her manifesto was a blueprint on total destruction, and it was so detailed at the level of what she had planned…that document in the wrong person’s hands would be astronomically dangerous…” 

    She added: “I personally don’t want to know the depths to which her psychosis reached…When I’m told by an MNPD high-ranking official that it keeps him up at night, I’m going to defer to that person in that agency that I don’t need to read that.”

    Tennessee Bureau of Investigation Director David Rausch described the writings he had seen during a meeting with the Tennessee Sheriffs’ Association, saying: “The documents that we have, and I have viewed those, you know, one is specifically a plan and the other is some journal-type rantings.”

    Was Audrey Hale a criminal mastermind?  It’s highly unlikely given she was taken down by police within moments of the officers arriving on scene.  It is more probable that the FBI is following orders from political leadership to hide any documents that might embarrass Democrats, who are now closely aligned with trans activist groups and social justice organizations.  Democrats have effectively shifted the debate on the Nashville shooting over to gun control and trans rights, and have avoided discussing the potential ideological causes of the attack.  

    Would such documents inspire further violence from the political left on a scale similar to what happened at Covenant School?  It’s hard to say, but it doesn’t seem as though activists need much encouragement these days.  The first and most obvious conclusion one can draw from the FBI’s refusal to make Hale’s writings public is that they are incredibly damaging to the trans movement, a class of people now protected by government officials and the corporate establishment.  

    In other words, a message is being sent by federal agencies, the White House and others that if you are a trans person and you commit mass murder, you will enjoy special treatment.  The consequences of such a message are obvious.     

    Tyler Durden
    Sat, 04/22/2023 – 16:00

  • Senator Demands Answers From Government On COVID-19 Vaccine Injury Compensation
    Senator Demands Answers From Government On COVID-19 Vaccine Injury Compensation

    Authored by Zachary Stieber via The Epoch Times (emphasis ours),

    A U.S. senator is demanding answers from U.S. officials on compensation to people who were injured by COVID-19 vaccines.

    Sen. Ron Johnson (R-Wis.) in Washington on Feb. 9, 2021. (Ting Shen/Pool/AFP via Getty Images)

    Sen. Ron Johnson (R-Wis.), ranking member of the Senate’s Permanent Subcommittee on Investigations, asked for key details on the U.S. compensation scheme, including how much each person who has been compensated requested.

    The government recently paid three people who were injured by the vaccines, marking the first time payments were rendered for the COVID vaccines. But the highest payout was just $2,019.

    Johnson is also asking whether the government has advertised the Countermeasures Injury Compensation Program (CICP), the only venue for federal compensation; whether officials expect an increase in claims in light of how many injury reports have been logged with the Vaccine Adverse Event Reporting System, and how much money injured people are eligible for under the program.

    The Republican outlined the requested information in a letter to Xavier Becerra, the secretary of the Department of Health and Human Services (HHS), and Carole Johnson, the administrator of the Health and Resources Administration (HRSA).

    HHS and HRSA did not respond to requests for comment.

    “Although the government appears to be providing very limited compensation to individuals who have filed COVID-19 vaccine injury claims, the process by which HHS evaluates these claims or even advertises the existence of this compensation program remains opaque,” Johnson told The Epoch Times in an emailed statement.

    “HHS owes the American people a complete explanation of its administration of the compensation program for individuals who have suffered COVID-19 vaccine injuries,” he added.

    Read more here…

    Tyler Durden
    Sat, 04/22/2023 – 15:30

  • Biden Impeachment? Top Republican Says IRS Whistleblower, Chinese 'Collusion' And Hunter Laptop Letter Hoax "Tip Of The Iceberg"
    Biden Impeachment? Top Republican Says IRS Whistleblower, Chinese ‘Collusion’ And Hunter Laptop Letter Hoax “Tip Of The Iceberg”

    A Republican member of the House Oversight Committee thinks a flurry of recent corruption scandals could lead to the impeachment of President Joe Biden.

    Between the revelation that the ‘Hunter laptop letter hoax‘ signed by 51 current and former intelligence officials was created at the best of Antony Blinken during the 2020 US election, the obvious implications of CCP leverage over the Biden family, and information presented by an IRS whistleblower regarding the Hunter Biden probe, things may get interesting according to Rep. Tim Burchett (R-TN).

    When asked about China’s influence over the Biden family, Burchett told Fox News‘ Maria Bartiromo on Friday: “We know of at least eight Biden family members who have profited from dealings overseas,” adding “I think if you delve into it deep enough, there’s prostitution rings involved in this, human trafficking has been rumored to be part of some of this. These so-called companies that have allowed the Biden family to profit. It is gross, and it is disgusting.”

    If I was those 51 people, I’d be lawyering up right now because they’re going to be asked in public at some point what they knew and if they knew that all this other stuff was going on, because it is very damning Maria. This is just the very tip of the iceberg,” he continued.

    “This very brave IRS agent coming forward, I think, will just start it,” Burchett said, referring to the senior agent in charge of the Hunter Biden investigation who came forward earlier this week in a letter to lawmakers, accusing the DOJ of ‘mishandling’ the Hunter Biden case, and that his client had information that would contradict sworn testimony from a senior political appointee.

    When asked if that might lead to an impeachment, Burchett said: “If this coverup shows what’s going on, what we assume is going on, and that the 51 folks were basically lied to and showed false documentation, how can you not…

    The lawyer for the whistleblower joined “Special Report with Bret Baier” Thursday night claiming his client is “not a political person” and does not have a “political agenda,” but does have documents to support his allegations that he hopes to bring to both congressional Democrats and Republicans.

    If you delve into it deep enough, there’s prostitution rings involved in this. Human trafficking has been rumored to be a part of some of these so-called companies that have allowed the Biden family to profit. It is gross and it is disgusting about what has been allowed to go on,” Burchett said. –Fox News

    “I cannot imagine how the Justice Department allowed this to go on, if not for corruption at the highest level. And they are in some serious trouble right now. I think they know it,” Burchett continued.

    https://platform.twitter.com/widgets.js

    When it comes to China, Burchett said: [China has] so much invested in this White House now, that their cover-up upon cover-ups will continue. But I can assure you that the American people understand what’s going on,” adding “And I can assure you that [Oversight] Chairman Comer and Chairman Jordan are steering this in the right direction. As I stated before, this is complete collusion with the communist Chinese. They bought and sold this White House.”

    Tyler Durden
    Sat, 04/22/2023 – 15:00

  • Ukraine Planned Attacks On Russian Forces In Syria
    Ukraine Planned Attacks On Russian Forces In Syria

    Authored by Kyle Anzalone via AntiWar.com,

    Kiev’s military intelligence agency believed it could carry out attacks on Russian soldiers and Wagner Group forces in Syria, forcing Moscow to redeploy military assets from Ukraine. The story was reported by the Washington Post using documents released by Jack Teixeira.

    The Ukrainian defense officials believed they could use Kurdish forces to wage a proxy war against Russia in Syria. According to the Post, the plan never materialized as President Volodymyr Zelensky ordered an end to the planning in December.

    It appears that Ukrainian officials engaged in some discussions with the Syrian Democratic Forces, a Kurdish militia backed by the US. The documents said the Kurdish officials requested training on drones and air defenses. Additionally, the Kurds said they would not attack Russian positions in areas held by the SDF, and requested their role in the operations be kept secret.

    Ukraine declined to respond to questions about the document. A Kurdish official claimed the information was false.

    Russian forces have been in Syria since 2015. President Vladimir Putin ordered his soldiers to aid the Syrian government led by Bashar al-Assad. At the time of Russian intervention, both al-Qaeda in Syria and ISIS were threatening to topple Damascus. The Russian soldiers helped Syrian forces turn back the advance of the jihadist groups.

    While Moscow continues military operations in Syria, the Kremlin is attempting to end the conflict through diplomatic means. Putin is attempting to broker a deal to normalize relations between Syria and Saudi Arabia. Riyadh has been a primary backer of the anti-Assad militants in Syria and has received pressure from Washington to continue to isolate Damascus.

    The document says Zelensky could allow the operations to proceed, but would likely require assistance from the US and Turkey. Ankara may be unwilling to support the covert proxy warfare as it views the SDF as a terrorist organization, and has long protested Washington arming the Syrian Kurds.

    Additionally, the operations could inflame the war in Syria. The decade-long war has seen a dip in violence in recent years as Assad and his allies have consolidated control over most of Syria. The US and SDF occupy the eastern third of the country.

    Getty Images

    However, the SDF leadership has shown a willingness to work with Moscow. If Kurdish forces allow themselves to become a proxy force for Kiev, Moscow will likely aggressively target SDF positions in eastern Syria.

    Tyler Durden
    Sat, 04/22/2023 – 14:30

  • Civil Rights Complaint Filed Against Anheuser-Busch For Racist And Sexist Hiring
    Civil Rights Complaint Filed Against Anheuser-Busch For Racist And Sexist Hiring

    Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

    The makers of Bud Light, who are facing a nationwide public backlash over promoting trans-activism in the name of diversity, have found themselves amid a civil rights complaint for racist and sexist hiring practices.

    “The evidence is that Anheuser-Busch is knowingly, intentionally, and unlawfully discriminating based on race, color, national origin, and sex with respect to employment and job training opportunities,” said the April 17 complaint (pdf) filed by public charity America First Legal (AFL) with the U.S. Equal Employment Opportunity Commission (EEOC) against beverage manufacturer Anheuser-Busch.

    Bud Light beer cans sit on a table at Camden Yards in Baltimore, Md., on Sept. 19, 2019. (Rob Carr/Getty Images)

    AFL pointed to the Missouri-based company’s 2023 Leadership Accelerator Program, which provides leadership-development programs for individuals who identify as historically underrepresented groups as they join the company in a full-time capacity.

    “We encourage candidates who identify as Black, Latinx, and Native American to apply, as well as those who identify with a historically underrepresented group,” according to the program’s job profile. The company insists that it is an “equal opportunity employer.”

    AFL slammed such tactics, pointing out that the Leadership Accelerator Program notably excludes white and Asian-American citizens.

    In a recent post, the nonprofit accuses the company of discriminating based on race, color, national origin, and sex in their employment practices under the cloak of equity.

    “It is a fast-track program to executive leadership positions at Anheuser-Busch, and it is limited to candidates based on race. The proforma Equal Opportunity Employer language at the end of the posting does mask the company’s discriminatory intent and purpose,” the letter states.

    In addition, Anheuser-Busch’s diversity, equity, and inclusion (DEI) strategy also boosted the presence of women in the company’s senior leadership team, the organization said.

    Exclusionary Practices?

    AFL points out that federal law forbids an employer from discriminating against an existing or potential employee due to the person’s race, color, national origin, sex, or religion. In addition, employers are also forbidden from limiting, segregating, or classifying employees or applicants in such a discriminatory manner that would affect the individual’s employment opportunities.

    A commissioner’s charge is particularly appropriate here because there is ample reason to believe that Anheuser-Busch has knowingly and intentionally violated federal law and will continue to do so,” the letter said.

    “The corporation has chosen to promote and use employment practices that are both patently illegal and deeply harmful.”

    Anheuser-Busch recently attracted criticism after it sent custom beer cans to trans-activist Dylan Mulvaney featuring the person’s face. Critics had slammed the move as pushing a transgender agenda. The can was created to celebrate Mulvaney’s apparently one year of transitioning into womanhood.

    Read more here…

    Tyler Durden
    Sat, 04/22/2023 – 13:30

Digest powered by RSS Digest

Today’s News 22nd April 2023

  • Court Filing Suggests Troubling CIA Links To Two 9/11 Hijackers
    Court Filing Suggests Troubling CIA Links To Two 9/11 Hijackers

    Authored by Kit Klarenberg via The Grayzone,

    A newly-released court filing raises grave questions about the relationship between Alec Station, a CIA unit set up to track Al Qaeda chief Osama bin Laden and his associates, and two 9/11 hijackers leading up to the attacks, which was subject to a coverup at the highest levels of the FBI.

    Obtained by SpyTalk, the filing is a 21-page declaration by Don Canestraro, a lead investigator for the Office of Military Commissions, the legal body overseeing the cases of 9/11 defendants. It summarizes classified government discovery disclosures, and private interviews he conducted with anonymous high-ranking CIA and FBI officials. Many agents who spoke to Canestraro headed up Operation Encore, the Bureau’s aborted, long-running probe into Saudi government connections to the 9/11 attack.

    Despite conducting multiple lengthy interviews with a range of witnesses, producing hundreds of pages of evidence, formally investigating several Saudi officials, and launching a grand jury to probe a Riyadh-run US-based support network for the hijackers, Encore was abruptly terminated in 2016. This was purportedly due to a byzantine intra-FBI bust-up over investigative methods.

    When originally released in 2021 on the Office’s public court docket, every part of the document was redacted except an “unclassified” marking. Given its explosive contents, it is not difficult to see why: as Canestraro’s investigation concluded, at least two 9/11 hijackers had been recruited either knowingly or unknowingly into a joint CIA-Saudi intelligence operation which may have gone awry. 

    ‘A 50/50 chance’ of Saudi involvement

    In 1996, Alec Station was created under the watch of the CIA. The initiative was supposed to comprise a joint investigative effort with the FBI. However, FBI operatives assigned to the unit soon found they were prohibited from passing any information to the Bureau’s head office without the CIA’s authorization, and faced harsh penalties for doing so. Efforts to share information with the FBI’s equivalent unit – the I-49 squad based in New York – were repeatedly blocked.  

    In late 1999, with “the system blinking red” about an imminent large-scale Al Qaeda terror attack inside the US, the CIA and NSA were closely monitoring an “operational cadre” within an Al Qaeda cell that included the Saudi nationals Nawaf al-Hazmi and Khalid al-Mihdhar. The pair would purportedly go on to hijack American Airlines Flight 77, which crashed into the Pentagon on 9/11.

    Al-Hazmi and al-Midhar had attended an Al Qaeda summit that took place between January 5th and 8th 2000, in Kuala Lumpur, Malaysia. The meeting was secretly photographed and videotaped by local authorities at Alec Station’s request although, apparently, no audio was captured. En route, Mihdhar transited through Dubai, where CIA operatives broke into his hotel room and photocopied his passport. It showed that he possessed a multi-entry visa to the US.

    A contemporaneous internal CIA cable stated this information was immediately passed to the FBI “for further investigation.” In reality, Alec Station not only failed to inform the Bureau of Mihdhar’s US visa, but also expressly forbade two FBI agents assigned to the unit from doing so.

    “[I said] ‘we’ve got to tell the Bureau about this. These guys clearly are bad…we’ve got to tell the FBI.’ And then [the CIA] said to me, ‘no, it’s not the FBI’s case, not the FBI’s jurisdiction’,” Mark Rossini, one of the FBI agents in question, has alleged. “If we had picked up the phone and called the Bureau, I would’ve been violating the law. I…would’ve been removed from the building that day. I would’ve had my clearances suspended, and I would be gone.”

    On January 15th, Hazmi and Mihdhar entered the US through Los Angeles International Airport, just weeks after the foiled Millennium plot. Omar al-Bayoumi, a Saudi government “ghost employee” immediately met them at an airport restaurant. After a brief conversation, Bayoumi helped them find an apartment near his own in San Diego, co-signed their lease, set them up bank accounts, and gifted $1,500 towards their rent. The three would have multiple contacts moving forward.

    In interviews with Operation Encore investigators years later, Bayoumi alleged his run-in with the two would-be hijackers was mere happenstance. His extraordinary practical and financial support was, he claimed, simply charitable, motivated by sympathy for the pair, who could barely speak English and were unfamiliar with Western culture. 

    The Bureau disagreed, concluding Bayoumi was a Saudi spy, who handled a number of Al Qaeda operatives in the US. They also considered there to be a “50/50 chance” he – and by extension Riyadh – had detailed advance knowledge of the 9/11 attacks.

    That remarkable finding wasn’t known publicly until two decades later, when a tranche of Operation Encore documents were declassified upon the Biden administration’s orders, and it was completely ignored by the mainstream media. Don Canestraro’s declaration now reveals FBI investigators went even further in their assessments.

    https://platform.twitter.com/widgets.js

    A Bureau special agent, dubbed “CS-3” in the document, stated Bayoumi’s contact with the hijackers and support thereafter “was done at the behest of the CIA through the Saudi intelligence service.” Alec Station’s explicit purpose was to “recruit Al-Hazmi and Al-Mihdhar via a liaison relationship”, with the assistance of Riyadh’s General Intelligence Directorate.

    A most ‘unusual’ CIA unit

    Alec Station’s formal remit was to track bin Laden, “collect intelligence on him, run operations against him, disrupt his finances, and warn policymakers about his activities and intentions.” These activities would naturally entail enlisting informants within Al Qaeda. 

    Nonetheless, as several high level sources told Canestraro, it was extremely “unusual” for such an entity to be involved in gathering intelligence and recruiting assets. The US-based unit was run by CIA analysts, who do not typically manage human assets. Legally, that work is the exclusive preserve of case officers “trained in covert operations” and based overseas.

    “CS-10”, a CIA case officer within Alec Station, concurred with the proposition that Hazmi and Mihdhar enjoyed a relationship with the CIA through Bayoumi, and was baffled that the unit was tasked with attempting to penetrate Al Qaeda in the first place. They felt it “would be nearly impossible…to develop informants inside” the group, given the “virtual” station was based in a Langley basement, “several thousand miles from the countries where Al Qaeda was suspected of operating.”

    “CS-10” further testified that they “observed other unusual activities” at Alec Station. Analysts within the unit “would direct operations to case officers in the field by sending the officers cables instructing them to do a specific tasking,” which was “a violation of CIA procedures.” Analysts “normally lacked the authority to direct a case officer to do anything.”

    “CS-11”, a CIA operations specialist posted to Alec Station “sometime prior to the 9/11 attacks” said they likewise “observed activity that appeared to be outside normal CIA procedures.” Analysts within the unit “mostly stuck to themselves and did not interact frequently” with others. When communicating with one another through internal cables, they also used operational pseudonyms, which “CS-11” described as peculiar, as they were not working undercover, “and their employment with the CIA was not classified information.”

    The unit’s unusual operational culture may explain some of the stranger decisions made during this period vis a vis Al Qaeda informants. In early 1998, while on a CIA mission to penetrate London’s Islamist scene, a  joint FBI-CIA informant named Aukai Collins received a stunning offer: bin Laden himself wanted him to go to Afghanistan so they could meet. 

    Collins relayed the request to his superiors. While the FBI was in favor of infiltrating Al Qaeda’s base, his CIA handler nixed the idea, saying, “there was no way the US would approve an American operative going undercover into Bin Laden’s camps.”

    Similarly, in June 2001, CIA and FBI analysts from Alec Station met with senior Bureau officials, including representatives of its own Al Qaeda unit. The CIA shared three photos of individuals who attended the Kuala Lumpur meeting 18 months earlier, including Hazmi and Mihdhar. However, as an FBI counter-terror officer codenamed “CS-15” recalled, the dates of the photos and key details about the figures they depicted were not revealed. Instead, the analysts simply asked if the FBI “knew the identities of the individuals in the photos.” 

    Another FBI official present, “CS-12”, offers an even more damning account. The Alec Station analysts not only failed to offer biographical information, but falsely implied one of the individuals might be Fahd Al-Quso, a suspect in the bombing of the USS Cole. What’s more, they outright refused to answer any questions related to the photographs. Nonetheless, it was confirmed that no system was in place to alert the FBI if any of the three entered the US – a “standard investigative technique” for terror suspects.

    Given Hazmi and Mihdhar appeared to be simultaneously working for Alec Station in some capacity, the June 2001 meeting may well have been a dangle. No intelligence value could be extracted from inquiring whether the Bureau knew who their assets were, apart from ascertaining if the FBI’s counter-terror team was aware of their identities, physical appearances, and presence in the US.

    Quite some coverup

    Another of Canestraro’s sources, a former FBI agent who went by “CS-23,” testified that after 9/11, FBI headquarters and its San Diego field office quickly learned of “Bayoumi’s affiliation with Saudi intelligence and subsequently the existence of the CIA’s operation to recruit” Hazmi and Mihdhar.

    However, “senior FBI officials suppressed investigations” into these matters. “CS-23” alleged, furthermore, that Bureau agents testifying before the Joint Inquiry into 9/11 “were instructed not to reveal the full extent of Saudi involvement with Al-Qaeda.”

    The US intelligence community would have had every reason to shield Riyadh from scrutiny and consequences for its role in the 9/11 attacks, as it was then one of its closest allies. But the FBI’s eager complicity in Alec Station’s coverup may have been motivated by self-interest, as one of its own was intimately involved in the unit’s effort to recruit Hazmi and Mihdhar, and conceal their presence in the US from relevant authorities.

    “CS-12”, who attended the June 2001 meeting with Alec Station, told Canestraro that they “continued to press FBI Headquarters for further information regarding the subjects in the photographs” over that summer. On August 23rd, they stumbled upon an “electronic communication” from FBI headquarters, which identified Hazmi and Mihdhar, and noted they were in the US. 

    “CS-12” then contacted the FBI analyst within Alec Station who authored the communication. The conversation quickly became “heated”, with the analyst ordering them to delete the memo “immediately” as they were not authorized to view it. While unnamed in the declaration, the FBI analyst in question was Dina Corsi.

    The next day, on a conference call between “CS-12”, Corsi, and the FBI’s bin Laden unit chief, “officials at FBI headquarters” explicitly told “CS-12” to “stand down” and “cease looking” for Mihdhar, as the Bureau intended to open an “intelligence gathering investigation” on him. The next day, “CS-12” emailed Corsi, stating bluntly “someone is going to die” unless Mihdhar was pursued criminally.

    It was surely no coincidence that two days later, on August 26th, Alec Station finally informed the FBI that Hazmi and Mihdhar were in the US. By then, the pair had entered the final phase of preparations for the impending attacks. If a criminal probe had been opened, they could have been stopped in their tracks. Instead, as foreshadowed by the officials in contact with “CS-12,” an intelligence investigation was launched which hindered any search efforts.

    In the days immediately after the 9/11 attacks, “CS-12” and other New York-based FBI agents participated in another conference call with Bureau headquarters. During the conversation, they learned Hazmi and Mihdhar were named on Flight 77’s manifest. One analyst on the line ran the pair’s names through “commercial databases,” quickly finding them and their home address listed in San Diego’s local phone directory. It turned out they had been living with an FBI informant.

    “CS-12” soon contacted Corsi “regarding information on the hijackers.” She responded by providing a photograph from the same surveillance operation that produced the three pictures presented at the June 2001 meeting between Alec Station and FBI agents; they depicted Walid bin Attash, a lead suspect in Al Qaeda’s 1998 East Africa US Embassy bombings and its attack on the USS Cole. 

    Corsi was unable to explain why the photo was not shown to FBI agents earlier. If it had been, “CS-12” claims they would have “immediately linked” Hazmi and Mihdhar to bin Attash, which “would have shifted from an intelligence based investigation into a criminal investigation.” The FBI’s New York field office could have then devoted its “full resources” to finding the hijackers before the fateful day of September 11, 2001.

    Alec Station operatives fail upwards

    Alec Station’s tireless efforts to protect its Al Qaeda assets raises the obvious question of whether Hazmi and Mihdhar, and possibly other hijackers, were in effect working for the CIA on the day of 9/11.

    The real motives behind the CIA’s stonewalling may never be known. But it appears abundantly clear that Alec Station did not want the FBI to know about or interfere in its secret intelligence operation. If the unit’s recruitment of Hazmi and Mihdhar was purely dedicated to information gathering, rather than operational direction, it is incomprehensible that the FBI had not been apprised of it, and was instead actively misdirected.

    Several FBI sources consulted by Canestraro speculated that the CIA’s desperation to penetrate Al Qaeda prompted it to grant Alec Station the power to recruit assets, and pressured it to do so. But if this were truly the case, then why did Langley refuse the opportunity to send Aukai Collins – a proven deep cover asset who had infiltrated several Islamist gangs – to penetrate bin Laden’s network in Afghanistan?

    One alternative explanation is that Alec Station, a powerful rogue CIA team answerable and accountable to no one, sought to infiltrate the terror group for its own sinister purposes, without the authorization and oversight usually required by Langley in such circumstances. Given that Collins was a joint asset shared with the FBI, he could not be trusted to participate in such a sensitive black operation.  

    No member of Alec Station has been punished in any way for the supposed “intelligence failures” that allowed 9/11 to go ahead. In fact, they have been rewarded. Richard Blee, the unit’s chief at the time of the attacks, and his successor Alfreda Frances Bikowsky, both joined the CIA’s operations division, and became highly influential figures in the so-called war on terror. Corsi, for her part, was promoted at the FBI, eventually rising to the rank of Deputy Assistant Director for Intelligence.  

    In a perverse twist, the Senate Intelligence Committee’s report on the CIA’s torture program found that Bikowsky had been a key player in the agency’s black site machinations, and one of their chief public apologists. It is increasingly clear that the program was specifically concerned with eliciting false testimony from suspects in order to justify and expand the US war on terror. 

    The public’s understanding of the 9/11 attacks is heavily informed by testimonies delivered by CIA torture victims under the most extreme duress imaginable. And Bikowsky, a veteran of the Alec Station that ran cover for at least two would-be 9/11 hijackers, had been in charge of interrogating the alleged perpetrators of the attacks.

    The veteran FBI deep cover agent Aukai Collins concluded his memoir with a chilling reflection which was only reinforced by Don Canestraro’s bombshell declaration:

    “I was very mistrustful about the fact that bin Laden’s name was mentioned literally hours after the attack… I became very skeptical about anything anybody said about what happened, or who did it. I thought back to when I was still working for them and we had the opportunity to enter Bin Laden’s camp. Something just hadn’t smelled right…To this day I’m unsure who was behind September 11, nor can I even guess… Someday the truth will reveal itself, and I have a feeling that people won’t like what they hear.”

    Tyler Durden
    Fri, 04/21/2023 – 23:40

  • US Debt: Visualizing The $31.4 Trillion Owed In 2023
    US Debt: Visualizing The $31.4 Trillion Owed In 2023

    Can you picture what $31.4 trillion looks like?

    The enormity of U.S. government debt is hard for the average person to wrap their head around. For instance, compared to the median U.S. mortgage, the current level of federal debt is 230 million times larger.

    In this graphic, Visual Capitalist’s Julie Peasley shows how many one-dollar bills it would take to stack up to the total U.S. debt of $31.4 trillion.

    How Did U.S. Debt Get So High?

    U.S. national debt is how much money the federal government owes to creditors. When the government spends more than it earns, it has a budget deficit and must issue debt in the form of Treasury securities.

    The U.S. has run a deficit for the last 20 years, substantially increasing the national debt. In fact, according to the Department of the Treasury, the current debt is $31.4 trillion.

    Stacked up in one-dollar bills, the U.S. debt would be equivalent to almost eight of Chicago’s 110-story Willis Tower.

    Year Outstanding Debt Year-Over-Year Increase
    2023* $31.4T 2%
    2022 $30.9T 9%
    2021 $28.4T 6%
    2020 $26.9T 19%
    2019 $22.7T 6%
    2018 $21.5T 6%
    2017 $20.2T 3%
    2016 $19.6T 8%
    2015 $18.2T 2%
    2014 $17.8T 6%
    2013 $16.7T 4%
    2012 $16.1T 9%
    2011 $14.8T 9%
    2010 $13.6T 14%
    2009 $11.9T 19%
    2008 $10.0T 11%
    2007 $9.0T 6%
    2006 $8.5T 7%
    2005 $7.9T 8%
    2004 $7.4T 9%
    2003 $6.8T 9%
    2002 $6.2T 7%
    2001 $5.8T 2%
    2000 $5.7T 0%

    Source: Fiscal Data. Debt for 2023 is as of January, with the year-over-year increase reflecting the growth from October 2022 to January 2023. October is the start of the fiscal year for the U.S. government. Debt includes both debt held by the public and intragovernmental holdings.

    The last time the government had a surplus was in 2001, when debt rose only 2% due to interest costs. Since then, the largest jumps in U.S. debt have been during the Global Financial Crisis—which saw three straight years of double-digit growth rates—and in 2020 due to trillions of dollars of COVID-19 stimulus.

    U.S. federal debt rises during recessions because government revenue, primarily composed of taxes, decreases. At the same time, the government increases spending to help stimulate an economic recovery.

    And in today’s case, the U.S. is facing additional financial issues. As the country’s senior population grows and people live longer, this puts pressure on programs that serve older Americans such as Social Security. Healthcare is becoming more expensive and is the second-fastest growing part of the U.S. budget.

    The Pros and Cons of Debt

    U.S. debt helps fund critical programs for Americans, including retirement and disability benefits, healthcare, economic security, and national defense.

    As one example of the impact of these programs, income security nearly halved the percent of the population living below the poverty line in 2019 from 22.8% to 12.2%.

    Of course, U.S. debt also comes with challenges. A chief concern is the ability to pay the interest costs on U.S. debt, especially as interest rates rise.

    Before rate hikes began, interest costs amounted to 6% of the U.S. budget in the 2021 fiscal year. Fast forward to December 2022, and interest costs amounted to 15% of total government spending since the start of the fiscal year in October.

    Addressing the Problem

    In January 2023, the U.S. hit its debt ceiling, also known as its borrowing limit. While some countries tie their debt to GDP, the U.S. sets an exact limit in dollar terms.

    The government would run out of money to pay its debts this summer if the ceiling is not raised, though policymakers have historically agreed to debt ceiling increases in the past to avoid a default. In 2011, the U.S. narrowly avoided default due to a last-minute debt ceiling negotiation and the country’s credit rating was downgraded as a result.

    Tackling U.S. debt is simple in theory: raise taxes or the debt limit, reduce spending, or a combination of all three. However, it’s much more difficult in practice. Which taxes should be raised? Which programs should be cut? What happens the next time the debt limit is reached?

    Tyler Durden
    Fri, 04/21/2023 – 23:20

  • Why Colorado Is Topping The Charts In Violent Crime
    Why Colorado Is Topping The Charts In Violent Crime

    Authored by Katie Spence via The Epoch Times (emphasis ours),

    Rep. Gabe Evans isn’t a career politician. Before being elected to his first term as a Colorado State representative on Nov. 8, 2022, Evans served 12 years in the U.S. Army and Colorado Army National Guard, and 10 years as an Arvada, Colorado, police officer, sergeant, and lieutenant.

    As such, Evans has extensive experience in law enforcement and combating crime. When he was asked about a March report from the U.S. Department of Justice (DOJ) that found that among the 22 most populous states, Colorado was number one for violent crime and what’s led to the increase, Evans was quick to answer.

    In 2012, 2013, 2014, what we really started to see was this push to either reduce penalties or to completely decriminalize a whole bunch of different—and I’ll call them addictive substances because, to me, that’s the important part of this—but I’m talking drugs,” Evans told The Epoch Times.

    It’s the addiction power of drugs that I think kind of laid part of the foundation for where we’re at. There’s a lot of [legislation] we’ve [passed] to reduce penalties on meth, on cocaine, on heroin, on fentanyl. We just legalized, via a popular referendum, psilocybin this last election.

    And the unfortunate side effect of all that is there is still a massive international presence dedicated to the drug trade. You know, you’ve got huge cartels in Mexico that the Mexican government has trouble controlling.”

    Boxes carrying a total of more than 3,100 pounds of illicit drugs seized at the southwest border in San Diego, California, on Oct. 9, 2020. (US Customs and Border Protection)

    Evans said the push to reduce drug penalties encouraged cartels to “set up shop” in Colorado, as did the push to make it harder to enforce existing laws. “What happens is, inadvertently or not, [these policies] attract a huge criminal presence from the people who make a living distributing and trafficking this stuff,” Evans said.

    That, Evans added, led to an increase in other crimes, like vehicle theft and robberies, to fuel drug habits.

    Still, lax drug laws aren’t entirely responsible for Colorado’s escalating crime. The other factor, Evans explained, is what’s happening to officers.

    “You don’t usually see a lot of attrition in law enforcement in the 5-to-15-year range,” Evan said. “When Senate Bill 20-217 kicked in, most of the attrition occurred in that 5-to-15-year range.

    Among other provisions, SB 217 requires all local law enforcement to wear body-worn cameras—except in undercover, and certain situations—updating reporting requirements, and updated penalties for unlawful use of force. It also limits how officers can respond to a protest or demonstration, and allows for civil action suits against officers.

    “I mean, look at me. I was 10 years into my career. I was the youngest lieutenant in recent history at Arvada. I was making a solid six figures, and I walked away from that career, in which I was on a trajectory to be a chief or a sheriff in a few more years if I wanted to be competitive.

    “And I walked away from it. And there are, from my agency alone—my agency is less than 200 cops—from my agency alone, I can tell you dozens of similar stories of solid cops, solid detectives, solid sergeants with 5-to-15 years of experience that said, ‘I’m out. I cannot work in this toxic environment.’ That goes back to Senate Bill 217.”

    Escalating Crime

    The DOJ March report analyzed data from the National Crime Victimization Survey (NCVS) from 2017–2019 and found 45 “violent victimizations per 1,000 persons age 12 or older” in Colorado. Violent victimization includes sexual assault or rape, robbery, and aggravated and simple assault.

    The NCVS is considered the nation’s primary source for data on criminal victimization because it includes crimes reported and not reported to the police. The March report is the first time the Bureau of Justice Statistics (BJS) has released the NCVS’s victimization data.

    Moreover, while the report covers 2017–2019, the most recent data shows Colorado crimes have escalated. The Common Sense Institute reports that in 2022, crimes increased in seven major categories—arson, prostitution/pandering, robbery, motor vehicle theft, buying stolen property, vandalism, and drug possession/sales. In fact, for drug trafficking, the Colorado State Patrol reports that Colorado is in the middle of a 10-year drug trafficking record.

    A suitcase full of bags of fentanyl pills seized by DEA Los Angeles. (Courtesy of DEA Los Angeles)

    In the first five months of 2022, Colorado law enforcement seized more fentanyl than it did for all of 2021—enough to kill 93 million people.

    The report states, “Concurrent with Colorado’s rising crime rates, since the start of the pandemic, incarceration in Department of Corrections facilities dropped by 15.5 percent, the number of offenders on parole by 14.1 percent, and the number of offenders on probation by 14.4 percent. A rise in crime should catalyze a corresponding rise in arrests, convictions, and incarceration for the sake of public safety and justice for victims.”

    The reason escalating crime hasn’t resulted in a corresponding rise in law enforcement is because of changing laws.

    Legislation’s Impact

    “The vast majority of our general assembly is pushing bills that lower penalties for crimes and otherwise find ways of turning the criminals into victims in Colorado,” Colorado State Republican Rep. Ryan Armagost told The Epoch Times. Like Evans, Armagost served in the military and was in law enforcement for 10 years.

    The bills that [Republicans] push forward that would raise penalties for auto thefts and things like that are being killed before they even get to the floor,” Armagost said. “And then bills that are otherwise helping to find alternative means for those who offend—other than going through the correctional system—is kind of the means that the Democrats have been pushing. So, we’ve been seeing a lot more of the alternative sentencing and alternative means for detention.”

    Armagost noted that people are showing up to support the Democrat’s bills lowering penalties, while also showing up to protest the Republican’s bills looking to stiffen penalties. But he pointed out that there’s a distinct criminal thread.

    “The rallying and support for [the Democrats’ bills] have been [from] the people who have offended and the people who are going to have a criminal record. They are coming out and speaking in support of these bills that [Democrats are] pushing. It is the same group that comes out to oppose the bills that the Republican side is pushing to stiffen penalties and stiffen sensors and corrections, correctional facilities, and stuff like that,” he said.

    Evans, in agreement with Armagost, added, “You know, when certain narcotics are either legalized or penalties reduced, we see people come in—and when I say people, I’m talking cartels, organized crime, drug traffickers, things like that—they come in with the billions of dollars at their disposal and set up shop. That’s one of the things that drives our No. 1-in-the-nation auto theft rate. That’s one of the things that helps drive our violent crime rate up.

    Police investigate the scene after a shooting in Colorado Springs, Colo., on Oct. 31, 2015. (Christian Murdock/The Gazette via AP)

    “I remember a particular case that we had shortly after a particular drug was legalized, where there was a daytime burglary, and this mid-70s gentleman homeowner was assaulted and thrown down the stairs in his own home by somebody who had just gotten off of probation for drugs and assault in Texas that came to Colorado. He told me after I Mirandized him, he told me to my face, ‘The reason I came to Colorado is because I like your drug laws.’”

    Former Colorado State Rep. Dave Williams, who now serves as the Colorado GOP chair, concurred. “Colorado has certainly been at the forefront of legalizing drugs, and this all started back when Colorado legalized marijuana in 2012,” Williams told The Epoch Times.

    “We were one of the few states that actually legalized recreational marijuana. And that brought in a huge influx of folks wanting to partake in and get involved in marijuana. And that sort of kick-started it all.

    You had transients or homeless individuals, people with mental health conditions, that just came and started out panhandling. But then they started to engage in other types of crime, like burglary, armed robbery, or things of that nature to obtain resources to get marijuana. It’s only gotten worse from there as time has gone on.”

    Williams added, “Democrats are absolutely incentivizing crime. For whatever reason, they care more about criminals that mean us harm or harm to themselves. And they’re more interested in letting criminals run loose on the streets than enforcing the law and making sure that hardworking taxpayers can conduct their affairs safely in a safe environment.”

    Still, lax drug laws and laws that incentive crime are only part of the problem.

    Demonizing Police

    “Law enforcement in Colorado is facing a historic recruiting, retention, and morale crisis,” Evans said. “Nobody wants to be a cop. The cops that were cops are fleeing the profession in droves. And that’s the second prong of this kind of two-pronged issue that’s driving crime up in Colorado.” Specifically, according to Evans, one of the policies that “broke the back” of law enforcement was the passage of SB 217.

    Evans explained that after the police custody death of George Floyd on May 31, 2020, Denver experienced massive riots—the third most violent in the nation—and lawmakers, hoping to quell the fury, passed SB 217, the “Enhanced Law Enforcement Integrity” Act. It was signed into law on June 19, 2020, having passed through the general assembly and into law in 16 days.

    According to Evans, two parts of SB 217 are particularly demoralizing to law enforcement. The first was the requirement that every encounter be extensively documented, adding significant paperwork to an already demanding job, and the second was a body camera requirement.

    “The insidious part of how Senate Bill 217 implemented body cams was that it basically put a guilty-until-proven-innocent mandate in there which said that if something is not captured on law enforcement body camera—and whatever that was that was not captured is challenged in court—the courts are allowed to assume misconduct on the part of the officer, and it’s up to the cop to prove that they didn’t behave in an inappropriate manner,” Evans explained.

    Police officers walk through a cloud of tear gas as they try to disperse people protesting against the death of George Floyd in front of the Colorado State Capitol, in Denver, Colo., on May 30, 2020, amid nationwide protests and riots. (Michael Ciaglo/Getty Images)

    Evans said that when he was an officer, he loved his body cam, but added that there are numerous reasons why it might not capture footage. “If somebody makes an allegation against you, and the body cam didn’t capture it—the battery died, you forgot to turn it on, you know, whatever—there are 101 reasons why the good well-meaning cop who’s doing the right thing, the body cam might not be ready. … [Then] the courts are allowed to impugn and basically assume misconduct on behalf of the officer.

    “Now it’s on you to prove that misconduct did not occur. So, every time cops are putting on their body camera, it’s a visible reminder to them that, look, the state of Colorado thinks that you’re actually the bad guy and you’re the one that’s out here terrorizing and causing problems in the community.

    Armagost agreed with Evans, adding that most of the anti-law enforcement legislation originates in California, and is then adopted by the Colorado General Assembly.

    “Watching what’s going on nationally, pretty much you’ll notice that whatever is passing legislation in California, becomes a proposed bill the next year in Colorado,” said Armagost.

    “The anti-law enforcement sentiment is definitely one of those. They keep finding bills that are working in California and trying them here to further tie the hands of law enforcement and their ability to do their job.”

    A police vehicle is seen in front of the Boulder High School after police responded to an unconfirmed report of an active shooter in Boulder, Colo., on Feb. 22, 2023. (Kevin Mohatt/Reuters)

    Armagost added that in Denver, school resource officers were removed from almost all the schools, which he said “led to an uptick in incidences within our schools. We just had a shooting a couple of weeks ago in a Denver school.”

    Armagost said that currently, Republicans have one of the smallest Caucuses they’ve ever had in the General Assembly, and Democrats have used that to attack police officers.

    “[Democrats] made the law enforcement career the most toxic career to be in by basically giving everyone the right to be as belligerent and disrespectful to law enforcement as possible, and get away with it.

    You have law enforcement officers leaving early, not even finishing to retirement, at rates that we’ve never seen before. So, I mean, the retention in law enforcement agencies is very, very slim. It’s very disturbing. … Nobody wants to be a cop. Nobody really wants to be subjected to that kind of abuse on a daily basis anymore.”

    Reversing Rising Crime

    To reverse flagging retention and recruitment rates in law enforcement, and also reverse escalating violent crime in Colorado, Armagost said, “We need to evaluate, I think as a whole, and hopefully convince our democratic counterparts that we need to focus more on taking care of our protectors, not on taking care of criminals.”

    Evans concurred, “’I’m always up for criminal justice reform, but not if it’s making cops out to be the bad guys. We have to support law enforcement. And you know, I was a lieutenant. I’m very familiar with vicarious liability, all the bad stuff that happens when we got cops doing bad things, so I’m all for more training. I’m all for more education.

    “But we have to make it an environment in which people actually want to join this career and dedicate a significant chunk of their life to it. Because that’s the only option that we got. We have to be able to fix that recruiting and retention problem.”

    John Garrod, of Arvada, stands holding a blue line flag at the beginning of a line of about 30 police cars lined up for a procession in honor of the officer who was fatally shot in Arvada, Colo., on June 21, 2021. (Colleen Slevin/AP Photo)

    Specifically, to reduce rising violent crime, Evans added, “We need to have a nice balance of carrot and stick. If you harm your fellow human beings, you’re gonna be caught, you’re gonna be held accountable for it. That’s the stick.

    “But we also have to have the carrot, of look, we need to increase our mental health, behavioral health, substance abuse, we need to increase the focus on those programs to help those individuals that do want to be productive citizens actually have a productive life. … If you want a hand-up, we extend you an open hand of assistance. But if you continue to want to victimize your community, you will be met with a closed fist.”

    The Epoch Times’ requests for comment from Democratic lawmakers in Colorado were not returned by the time of publication.

    Tyler Durden
    Fri, 04/21/2023 – 23:00

  • "Fairly Severe" Corporate Credit Crunch Is "Harbinger Of More Stress To Come"
    “Fairly Severe” Corporate Credit Crunch Is “Harbinger Of More Stress To Come”

    It has been over a month since signs of banking stress first appeared in regional banks, and we quickly identified the beginning of a credit crunch. 

    Days after the collapse of Silicon Valley Bank, we pointed out that the next “credit event” had arrived. Then cited a note from Jan Hatzius, Goldman Sachs chief economist, who pointed out small and medium-sized banks serve a critical function in the US economy:

    “Banks with less than $250bn in assets account for roughly 50% of US commercial and industrial lending, 60% of residential real estate lending, 80% of commercial real estate lending, and 45% of consumer lending.” 

    And throughout March into April, we outlined the macroeconomic impact of the regional bank blowups that would be a major catalyst in a pullback of lending: 

    Confirmation of the tightened lending standards and worsening credit crunch that might spark a hard economic landing in the second half was confirmed in the Federal Reserve’s latest Beige Book, which based on information collected before April 10, indicated:

    • Conditions in the broad finance sector deteriorated sharply coinciding with recent stress in the banking sector. Small to medium-sized banks in the District reported widespread declines in loan demand across all loan segments. Credit standards tightened noticeably for all loan types, and loan spreads continued to narrow. Deposit rates moved higher. Finally, delinquency rates edged up on residential and commercial mortgages.

    • Lending volumes and loan demand generally declined across consumer and business loan types.

    • Several Districts noted that banks tightened lending standards amid increased uncertainty and concerns about liquidity.

    It is becoming increasingly clear that credit availability in certain sectors of the economy is contracting at a highly alarming pace. And might only worsen through summer. 

    For more confirmation about the credit crunch is a note from Bloomberg that revealed several findings shedding light on the deteriorating economic outlook. 

    Small businesses say it hasn’t been this difficult to borrow in a decade; the amount of corporate debt trading at distressed levels has surged about 300% over the past year, effectively locking a growing swath of businesses out of financial markets; bond and loan defaults have ticked up; and the Federal Reserve says banks have tightened lending standards. Corporate bankruptcies are on the rise, too, particularly in the construction and retail industries. –Bloomberg

    As a result of the funding crunch, in combination with the Fed’s aggressive interest rate increase, the fastest in decades, Torsten Slok, chief economist at Apollo Global Management, warned:

    “If credit conditions continue to tighten because banks need time to be in a position where they can give loans and operate, that increases risk of a harder landing —even more so than what we thought before.”

    Slok was already discussing “a hard landing before SVB happened” with clients, but now it appears almost inevitable. 

    Meanwhile, Treasury Secretary Janet Yellen had her ‘old lady blinders on’ when she recently said there’s no evidence of lending contraction that would alter her economic outlook.

    Recall, Yellen, as Fed Chair in 2017, was quoted saying there would be no new financial crisis in ‘our lifetimes.’ 

    However, small businesses are finding it more challenging to borrow money. About 9% of owners who borrow frequently said March was a difficult time to find financing than it was three months earlier, according to a survey by the National Federation of Independent Business.

    As lending conditions tighten, Matthew Mish, head of credit strategy at UBS, noted bankruptcies of public and private companies are rising. He said, “We’re already seeing substantial failure rates.” 

    “The weakness we are seeing in smaller issuers is likely a harbinger of more stress to come,” Barclays Plc strategist Bradley Rogoff warned. 

    And with the US default rate noticeably rising, junk bond spreads are set to widen. 

    “The volume of US corporate debt trading at distressed levels — a risk premium of at least 10 percentage points over the benchmark for bonds, or a price of less than 80 cents on the dollar for loans — has surged some 28% since last month’s banking crisis to around $300 billion,” according to Bloomberg. 

    In a recent interview on Bloomberg Television, Jim Caron, co-chief investment officer at Morgan Stanley Global Balanced Funds, said, “There is going to be a credit crunch, not a credit crisis.” He pointed out the credit crunch would unfold over time. 

    PitchBook data shows about a quarter of the $1.4 trillion leveraged loan market carries a B- credit rating, just one notch below CCC grade. 

    Paul Marshall, of Marshall Wace, one of the world’s biggest hedge-fund firms, warned investors earlier this month that the credit crunch will be “fairly severe” and might spark a recession.

    Tyler Durden
    Fri, 04/21/2023 – 22:40

  • Unvaccinated, Terminally-Ill Alberta Woman Denied Transplant Despite Proof Of COVID Natural Immunity
    Unvaccinated, Terminally-Ill Alberta Woman Denied Transplant Despite Proof Of COVID Natural Immunity

    Authored by Andrew Chen via The Epoch Times (emphasis ours),

    A vial of Pfizer-BioNTech COVID-19 vaccine is pictured at an Alberta Health Services vaccination clinic in Didsbury, Alta., on June 29, 2021. (Jeff McIntosh/The Canadian Press)

    A terminally-ill Alberta woman who was removed from an organ transplant list because she was unvaccinated against COVID-19 continued to be denied access to the medical procedure even after obtaining an independent medical report showing that she has natural immunity, said the Justice Centre for Constitutional Freedoms (JCCF).

    Sheila Annette Lewis has been challenging the constitutionality of the vaccine requirement put in place by Alberta Health Services (AHS) for transplant candidates.

    On March 28, Lewis provided her doctors in the Alberta transplant program with a privately-funded medical report, which established that she has strong natural immunity to COVID-19 and had overcome previous COVID-19 infections, the JCCF said in a press release issued April 18. The report was provided by the Kinexus Bioinformatics Corporation on March 24.

    The Kinexus report said Lewis’s blood sample “clearly supports the presence of SARS-CoV-2 immunoreactivity.” It also noted that she was likely infected with the disease around mid-September 2021 and was reinfected again more recently, and thus has “extremely high levels of antibodies against SARS-CoV-2.”

    Lewis asked her physicians to test her blood for COVID-19 antibodies nearly a year ago to see if she was naturally immune, and they refused to do so, according to JCCF.

    Response

    After Lewis provided her Kinexus report, one of her transplant physicians informed her on April 3 that despite the test results, “nothing had changed in regards to healthcare policies pertaining to COVID-19 vaccination requirements” and that she would still need to receive the vaccines before the hospital would give her an organ transplant, the JCCF said in its press release.

    [The physician] told her that the Kinexus Report concluded that even with natural immunity, she would need a booster dose of the Covid-19 vaccine. However, the report does not say anything about Ms. Lewis needing a booster dose of the Covid-19 vaccine to maintain immunity to Covid-19,” JCCF said.

    The Epoch Times reached out to the AHS in regard to Lewis’s case, but didn’t hear back immediately.

    Alberta lifted all COVID-19-related mandatory public health restrictions on June 14, 2022.

    A guideline from the Alberta government, listing a number of “routine immunizations” that adult organ transplant candidates are required to receive prior to a transplant, says patients should have a “primary series” of three doses of COVID-19 vaccines, while booster shots are needed “at least 6 months after primary series or previous booster dose.” The guideline, published on March 20, is a revision of immunization principles for transplant recipients issued on June 1, 2022.

    JCCF said it has sent a demand letter to AHS, the Alberta hospital, and Lewis’s transplant physicians, “requesting that they accept her now established natural immunity to Covid-19 as an alternative to Covid-19 vaccination and reinstate her to the high-priority transplant waitlist by April 21, 2023.”

    The transplant program team, AHS, and the hospital ought to accept Ms. Lewis’s natural immunity to Covid-19 as an alternative to Covid-19 vaccination and reinstate her to the high priority transplant list immediately,” Allison Pejovic, Lewis’s legal counsel, said in the JCCF press release.

    “There is no principled medical or scientific reason to continue to deny Ms. Lewis a life-saving organ transplant.”

    Lewis previously took AHS, an Alberta hospital where she would receive her transplant, and six transplant program physicians to court, but was unsuccessful at both the Alberta Court of Queen’s Bench and the Alberta Court of Appeal in 2022, JCCF said. Both courts found that the Canadian Charter of Rights and Freedoms and the Alberta Bill of Rights do not apply to the COVID-19 vaccine policies developed by the AHS and other defendants.

    Lewis has filed an application with the Supreme Court of Canada, asking it to hear her appeal. The country’s highest court has not yet decided whether it will do so, JCCF said.

    Tyler Durden
    Fri, 04/21/2023 – 22:20

  • LVMH Pivots From Hong Kong To Mainland China In Bid To Capture Soaring Lust For Luxury
    LVMH Pivots From Hong Kong To Mainland China In Bid To Capture Soaring Lust For Luxury

    LVMH Moët Hennessy Louis Vuitton – the world’s biggest purveyor of luxury goods – has shifted resources out of the luxury shopping mecca Hong Kong for mainland China.

    According to Bloomberg sources, LVMH has started the process of moving its regional headquarters from Hong Kong to Shanghai. It has also relocated some top executives to mainland China. 

    The top global luxury conglomerate will focus on Shanghai, Chengdu, Guangzhou, and Shenzhen markets as Hong Kong’s retail scene slumps. 

    Hong Kong suffered a series of missteps over the last several years, including anti-government protests in 2019 that kept visitors away, while China’s Covid zero policies limited cross-border activity. This has led to several retailers shuttering retail stores across the metro area.

    The pivot by LVMH, which owns brands including Tiffany & Co., Christian Dior, Fendi, and Louis Vuitton, is due to a surge in first-quarter sales as Chinese consumers on the mainland splurged on luxury items as the pace of the world’s second-largest economy gained momentum. 

    In a post-Covid era, LVMH anticipates that most Chinese luxury spending will be in mainland China rather than Hong Kong. Shopping centers located in duty-free zones like Hainan and the gambling districts of Macau are being swamped by these shoppers, leading to a decline in the importance of Hong Kong as a top luxury shopping hub. 

    LVMH is following the money.

    Tyler Durden
    Fri, 04/21/2023 – 22:00

  • AI Will Eventually Be 'As Good A Tutor As Any Human': Bill Gates
    AI Will Eventually Be ‘As Good A Tutor As Any Human’: Bill Gates

    Authored by Samantha Flom via The Epoch Times (emphasis ours),

    Artificial intelligence (AI) may not be advanced enough to replace teachers now, but according to Bill Gates, that time is not far off.

    “The AIs will get to that ability to be as good a tutor as any human ever could,” the Microsoft co-founder said at the ASU+GSV Summit in San Diego on April 18.

    “We have enough sample sets of those things being done well that the training can be done,” he added. “So, I’d say that is a very worthwhile milestone, is to engage in a dialogue where you’re helping to understand what they’re missing. And we’re not that far.”

    Bill Gates speaks onstage at the TIME100 Summit 2022 in New York City on June 7, 2022. (Jemal Countess/Getty Images for TIME)

    Gates’ comments came within the context of a larger conversation about the future role of technology in education with Jessie Woolley-Wilson, CEO of DreamBox Learning.

    “AI has, ever since the focus became machine learning, it’s achieved some unbelievable milestones,” Gates told Woolley-Wilson. “You know, it can listen to speech and recognize speech better than humans. It can recognize images and videos better than humans. The area that it was essentially useless in was in reading and writing. You could not take, say, a biology textbook and read it and pass the AP exam.”

    However, Gates noted that, where previous iterations of AI were incapable of replicating human understanding, emerging systems, like Microsoft-backed OpenAI’s GPT-4, had begun to bridge the gap.

    “The breakthrough we have now, which is very recent, is more to do with reading and writing—this incredible fluency to say, ‘Write a letter … like Einstein or Shakespeare would have written this thing,’ and to be at least 80 percent of the time very stunned by it.”

    Threat to Humanity

    In truth, industry experts have not only been stunned but, in many cases, unnerved by recent advancements in the evolution of AI, fearing the ripple effects of such technology on society.

    “AI systems with human-competitive intelligence can pose profound risks to society and humanity, as shown by extensive research and acknowledged by top AI labs,” warns a March 22 letter that has more than 27,500 signatures, with dozens of AI experts among them.

    Accusing AI creators of engaging in an “out-of-control race” to develop “ever more powerful digital minds that no one—not even their creators—can understand, predict, or reliably control,” the letter’s signatories called for an immediate six-month pause in the training of more advanced AI systems as society grapples with how to ensure their safety.

    One of those signatories was Tesla CEO Elon Musk, another tech tycoon who has been outspoken about his concerns regarding the capabilities of AI.

    Read more here…

    Tyler Durden
    Fri, 04/21/2023 – 21:40

  • A $300,000 Salary Feels Like $100,000 In These U.S. Cities
    A $300,000 Salary Feels Like $100,000 In These U.S. Cities

    Today in “why, again, do we need inflation?” news, a brand new study by SmartAsset reveals that in several U.S. cities, earning as much as $300,000 per year only feels like $100,000 due to increases in cost of living. 

    The study “adjusted $100,000 for the local cost of living in 76 of the largest cities in the U.S. using data from the Council for Community and Economic Research” using an index that took into account the price of housing, groceries, utilities, transportation, and other necessary purchases for Q3 2022. 

    The study found that three major U.S. cities required take home pay of over $300,000 to be able to spend like you earn $100,000 per year. Among them, of course, is San Francisco: “Residents of Honolulu, New York City and San Francisco who earn this amount are taxed roughly 40.5% or higher and have a cost of living more than 82% above the national average.”

    The study also found that it is easiest to “make it” in Texas – which could explain the massive defection currently taking place, wherein California residents are hauling their belongings to, and putting up roots in, the lonestar state. 

    “Salaries in El Paso, Corpus Christi, Lubbock, Houston, San Antonio, Fort Worth and Arlington can be as low as $119,300 while feeling like a true $100,000. Texans at this income level hold onto an average of 5.7 percentage points more of their annual salaries compared to states that charge income taxes, while the cost of living across Texas is generally lower than the national average,” the study reads.

    Meanwhile, for the privilege of living in California, you require the highest gross income of any state. SmartAsset writes: “San Francisco, Oakland, Los Angeles, Long Beach and San Diego all require exceptionally high salaries to feel like $100,000. Those in the Bay Area, for example, require at least $147,000 in salary for middle-class comfort. These Golden State cities command particularly high tax rates and cost of living premiums.”

    And believe it or not, despite Miami’s high cost of living, the study found that due to its low taxes it is more affordable to live in than places like Chicago and Baltimore:

    In general, states with no state income taxes have an edge when it comes to overall purchasing power. States that don’t take a cut of residents’ income taxes include Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

    Are politicians, including Chicago’s newly elected Mayor, paying attention? 

    You can read the entire study here.

    Tyler Durden
    Fri, 04/21/2023 – 21:20

  • Johnstone: Biden DOJ Indicts Four Americans For "Weaponized" Free Speech
    Johnstone: Biden DOJ Indicts Four Americans For “Weaponized” Free Speech

    Authored by Caitlin Johnstone,

    The Biden administration’s Department of Justice has just charged four members of the African People’s Socialist Party (APSP) for conspiring to act as agents of Russia by using speech and political action in ways the DOJ says “weaponized” the First Amendment rights of Americans.

    The Washington Post reports:

    Federal authorities charged four Americans on Tuesday with roles in a malign campaign pushing pro-Kremlin propaganda in Florida and Missouri — expanding a previous case that charged a Russian operative with running illegal influence agents within the United States.

    The FBI signaled its interest in the alleged activities in a series of raids last summer, at which point authorities charged a Moscow man, Aleksandr Viktorovich Ionov, with working for years on behalf of Russian government officials to fund and direct fringe political groups in the United States. Among other things, Ionov allegedly advised the political campaigns of two unidentified candidates for public office in Florida.

    Ionov’s influence efforts were allegedly directed and supervised by officers of the FSB, a Russian government intelligence service.

    Now, authorities have added charges against four Americans who allegedly did Ionov’s bidding through groups including the African People’s Socialist Party and the Uhuru Movement in Florida, Black Hammer in Georgia, and an unidentified political group in California — part of an effort to influence American politics.

    AFP reports that the conspiracy charges carry a sentence of up to ten years, with three of the four APSP members additionally charged with acting as unregistered agents of Russia which carries another five years.

    “Russia’s foreign intelligence service allegedly weaponized our First Amendment rights – freedoms Russia denies its own citizens – to divide Americans and interfere in elections in the United States,” said Assistant Attorney General Matthew G. Olsen in the DOJ’s press release regarding the indictments, adding, “The department will not hesitate to expose and prosecute those who sow discord and corrupt U.S. elections in service of hostile foreign interests, regardless of whether the culprits are U.S. citizens or foreign individuals abroad.”

    Looks like the United States has decided to dispense with those freedoms as well.

    https://platform.twitter.com/widgets.js

    The superseding indictment containing these charges consists of a lot of verbal gymnastics to obfuscate the fact that the DOJ is prosecuting US citizens for speech and political activities in the United States which happen not to align with the wishes of the US government. The grand jury alleges that the aforementioned Ionov “directed” these Americans to “publish pro-Russian propaganda” and “information designed to cause dissention in the United States,” which is about as vague and amorphous an allegation as you could possibly come up with.

    For the record Omali Yeshitela, the founder and chairman of the African People’s Socialist Party and one of the four Americans named in the indictment, has adamantly denied ever having worked for Russia. Earlier this month before charges were brought against him, the Tampa Bay Times quoted him as saying, “I ain’t ever worked for a Russian. Never ever ever ever. They know I have never worked for Russia. Their problem is, I’ve never worked for them.”

    But it’s important to note that this should not matter. Under the First Amendment the government is forbidden to abridge anyone’s freedom to speak however they want and associate with whomever they please, which necessarily includes being as vocally pro-Russia as they like and promoting whatever political agendas they see fit, whether that happens to advance the interests of the Russian government or not. The indictment alleges that the four Americans engaged in “agitprop” by “writing articles that contained Russian propaganda and disinformation,” but even if we pretend that’s both (A) a quantifiable claim and (B) a proven fact, propaganda and disinformation are both speech that the government is constitutionally forbidden from repressing.

    https://platform.twitter.com/widgets.js

    It’s not reasonable for the government to just dismiss the First Amendment on the grounds that it is being “weaponized”. You can’t have your government dictating what speech is valid and what counts as “agitprop” and “disinformation”, because they’ll always define those terms in ways which benefit the government, thus giving more power to the powerful and taking power away from the people. You can’t have your government dictating what political groups are legitimate and which ones are tools of a foreign government, because you can always count on the powerful set such designations in ways which benefit themselves.

    https://platform.twitter.com/widgets.js

    There’s also the brazen hypocrisy of it all. The US government is constantly engaging in foreign influence operations with outfits like the National Endowment for Democracy, which was set up to help foment coups and color revolutions and advance US information interests overtly in ways the CIA used to do covertly.

    As commentator Brian Berletic noted on Twitter, “The US through the National Endowment for Democracy has created armies of organizations carrying out malign influence operations around the world including here in Thailand. When the Thai government attempts to stop this activity, the US embassy shouts ‘free speech.’ Thailand’s government and others around the world could easily cite this move by the US Justice Department to target and uproot US-funded organizations doing exactly this and worse.”

    So for the US government to now claim it’s legitimate to start throwing US citizens in prison for a decade because they published “propaganda” for another country is absurd, and more than a little scary. The most powerful government in the world needs more political dissent at home, not less, and here they are trying to turn it into a crime.

    When they claim the members of the APSP published “propaganda” and promoted “dissention”, what they really mean is that they engaged in speech and political activism that the US government does not like. The spinmeisters will try to spin it, the legal mumbo-jumbo will try to obfuscate it, but that’s what’s happening. Don’t let them conceal this from you. They’re not worried about Russian propaganda, they’re worried you’ll stop listening to US propaganda.

    *  *  *

    My work is entirely reader-supported, so if you enjoyed this piece please consider sharing it around, throwing some money into my tip jar on PatreonPaypal, or Substack, buying an issue of my monthly zine, and following me on FacebookTwitterSoundcloud or YouTube. If you want to read more you can buy my books. The best way to make sure you see the stuff I publish is to subscribe to the mailing list for at my website or on Substack, which will get you an email notification for everything I publish. Everyone, racist platforms excluded, has my permission to republish, use or translate any part of this work (or anything else I’ve written) in any way they like free of charge. For more info on who I am, where I stand, and what I’m trying to do with this platform, click here. All works co-authored with my husband Tim Foley.

    Bitcoin donations:1Ac7PCQXoQoLA9Sh8fhAgiU3PHA2EX5Zm2

    Liked it? Take a second to support Caitlin Johnstone on Patreon!

    Tyler Durden
    Fri, 04/21/2023 – 21:00

  • "Buy Now, Pay Later" Mania Sends Americans Deeper Into 'Black Hole' Of Debt
    “Buy Now, Pay Later” Mania Sends Americans Deeper Into ‘Black Hole’ Of Debt

    Americans are drowning in credit card debt as elevated inflation makes the cost of living unbearable. About 70% of consumers are financially stressed, which means ones who’ve maxed out credit cards and drained personal savings amid 24 months of negative real wages are now resorting to “buy now, pay later” (BNPL) apps for basic items like groceries. 

    Bloomberg spoke with Faith Smith, a 34yo administrative assistant that is financially stressed, who said she couldn’t resist when retailer Target Corp. pinged her email with the ability to BNPL.

    Smith said she spends upwards of $500 per month on groceries. She said she already uses BNPL apps to purchase clothing and school supplies for her young daughter, but when the option came up to use it for groceries — she said it was a no-brainer: 

    “It helps for a week or two, but then you’re stuck with a grocery bill for a couple of months.”

    In the last several years, consumers have been addicted to the BNPL apps such as Afterpay, Affirm, Klarna, and PayPal.

    Almost half of Americans have used BNPL apps, and of those, about 1 in 5 rely on such apps to buy groceries, according to a recent survey from LendingTree Inc. Some 27% of users use the loans as a bridge to their next paycheck. — Bloomberg

    According to Consumer Financial Protection Bureau, BNPL surged during the pandemic, with five of the main US lenders originating $24.2 billion in 2021, up from $2 billion in 2019. The payment method is an attractive alternative to credit cards, with elevated interest rates

    Source: Bloomberg 

    The popularity of BNPL will only soar from here as CNBC’s Financial Confidence Survey found most Americans are living paycheck to paycheck. Inflation, economic instability, and a lack of savings led to 70% of respondents indicating they were stressed about their personal finances. 

    However, the convenience of BNPL and spreading monthly payments out for a predetermined time, if it’s just a few months or several years, can lead to a financial disaster if consumers miss payments, as this would mean late fees would pile up and credit scores would drop. 

    “You are putting yourself into the cycle of debt that would be very difficult to get out of,” says Terri Bradford, a payments specialist at the Federal Reserve Bank of Kansas City.

    LendingTree showed nearly half of the consumers are using BNPL for clothing, shoes, and accessories. About 21% are using it for groceries. 

    Source: Bloomberg 

    We expect an increasing number of financially stressed consumers will be tapping BNPL for groceries and basic items as macroeconomic conditions continue to sour

    Tyler Durden
    Fri, 04/21/2023 – 20:40

  • Confidence In Childhood Vaccine Plunges By Up To 44% During COVID-19
    Confidence In Childhood Vaccine Plunges By Up To 44% During COVID-19

    Authored by Jessie Zhang via Epoch Times (emphasis ours),

    A new report on immunisation suggests that confidence in childhood vaccines has fallen up to 44 percent in 52 countries coinciding with the largest sustained backslide in childhood immunization in 30 years, fuelled by the COVID-19 pandemic.

    Childhood vaccine confidence drops by over a third during the pandemic. (Narinder Nanu/AFP/Getty Images)

    The only three countries where vaccine confidence remained steady were China, India, and Mexico. The data from these countries indicates the perception of the importance of vaccines held firm or even improved.

    The report attributed this trend to several factors, including uncertainty about the response to the pandemic, growing access to a wider range of information, and political polarization.

    Catherine Russell, the executive director of UNICEF, said that this data is a worrying warning signal.

    At the height of the pandemic, scientists rapidly developed vaccines that saved countless lives. But despite this historic achievement, fear and disinformation about all types of vaccines circulated as widely as the virus itself,” Russell said in a press release.

    “We cannot allow confidence in routine immunizations to become another victim of the pandemic. Otherwise, the next wave of deaths could be of more children with measles, diphtheria or other preventable diseases.”

    72 doses of Vaccines from Birth to Eighteen Years

    Recently, vaccine critics have brought to light the large number of shots that are given to American children.

    According to the Centers for Disease Control and Prevention (CDC)’s immunization schedule, children are given up to 72 doses of 16 vaccines.

    Despite this, Robert F. Kennedy Jr., the founder and chief legal counsel of Children’s Health Defense and author of “The Real Anthony Fauci,” said that not a single vaccine on the schedule has been safety tested prior to being approved.

    “None of the 72 doses of vaccines that are currently mandated for children has ever been tested in a pre-licensing safety study against a true placebo,” Kennedy told the Epoch Times.

    It is a big problem, he says, because many of the injuries that come from vaccines, like all medicines, are long-term injuries.

    “You may say that the vaccine prevented the infection, but then you don’t count the cancers, the neurological disorders, the ADHD, and the autoimmune diseases that pop up five years from now. You need long-term studies,” he said.

    Many injuries that come from vaccines are long-term injuries but are often pushed out before these are discovered for expediency. (AP Photo/Sergei Chuzavkov)

    Kennedy said that DTP (Diphtheria, Tetanus, Pertussis) vaccine is the most popular vaccine in the world because of the efforts of those behind vaccines.

    “Incidentally [the US] withdrew the vaccine because it was killing so many children, it was causing brain damage according to a study that was done by UCLA,” Kennedy said.

    We ended it in the United States. We replaced it with a DTaP vaccine, an attenuated version, which is safer but less effective. They did the same thing in Europe.”

    Eventually, the Danish government did an extensive study of DTP with 30 years of vaccination records with leading pro-vaccination scientists, including Peter Aaby. They found that the vaccine was causing anemia, dysentery, and pneumonia and were killing more people than diphtheria, tetanus, and pertussis did prior to the introduction of the vaccine.

    That’s the danger. You could have a vaccine for 30 or 40 years, and nobody actually notices that the kids who are taking it are worse off from a health perspective because you have never done the placebo-controlled trials,” he said.

    Tyler Durden
    Fri, 04/21/2023 – 20:20

  • Sons Of El Chapo Fed Enemies To Pet Tigers, DoJ Says
    Sons Of El Chapo Fed Enemies To Pet Tigers, DoJ Says

    The Justice Department revealed in new court documents that the sons of notorious drug lord Joaquin “El Chapo” Guzman were absolute savages.

    The four sons — Ivan Guzman Salazar, 40, Alfredo Guzman Salazar, 37, Joaquin Guzman Lopez, 36, and Ovidio Guzman Lopez, 33 — known as the Chapitos, or little Chapos — were among 28 Sinaloa cartel members charged by the DoJ last week with fentanyl-trafficking.

    DoJ accused the cartel members of running “the largest, most violent and most prolific fentanyl trafficking operation in the world,” it also listed the torture methods and types of executions used by the cartel. 

    As per the indictment, the Chapitos owned multiple ranches where they would interrogate rival cartel members, public officials, law enforcement officers, and anyone who got in their way. 

    “Once information was obtained by these captives, typically through torture, these individuals were killed — either by or at the direction of the Chapitos themselves — and the bodies disposed of throughout the area. While many of these victims were shot, others were fed dead or alive to tigers” belonging to Alfredo and Ivan, the indictment read. 

    Court documents said one of the Sinaloa cartel’s hitmen, known as “Ninis,” ripped out the muscles of a person they were interrogating and fed the flesh to one of the Chapitos’ pet tigers. 

    El Chapo’s sons also used waterboarding and electrocution against rival cartel members. The DoJ said the Ninis would test the potency of the fentanyl on prisoners. 

    Among the three Chapitos charged, only Ovidio Guzmán López has been detained by police. El Chapo, their father and Sinaloa cartel’s founder, is in a maximum security prison in Colorado and serving a life sentence for drug trafficking and money laundering.  

    Full DoJ Indictment

    Tyler Durden
    Fri, 04/21/2023 – 20:00

  • IRS Pays $23 Billion Less In Tax Refunds For 2023 Filing Season, Worrying Americans
    IRS Pays $23 Billion Less In Tax Refunds For 2023 Filing Season, Worrying Americans

    Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

    The Internal Revenue Service (IRS) is paying $23 billion less in tax refunds for the 2023 filing season—with the average refund amount found to be lower by nearly $300.

    The IRS building is seen in Washington on Sept. 28, 2020. (Erin Scott/Reuters)

    The IRS has issued over 69 million refunds collectively worth $198.868 billion for the week ending April 7, 2023, according to the agency’s filing statistics. Compared to the $222.344 billion in refunds handed out in the 2022 season, the 2023 filing season’s refund is $23.476 billion smaller or about 10.6 percent lower.

    The average refund amount between the filing seasons has dropped from $3,175 to $2,878, a decline of 9.3 percent or $297. In fiscal 2022, the IRS collected $2.9 trillion in individual income taxes.

    Back in January, the IRS had suggested that refund amounts could be smaller this time around. “Due to tax law changes such as the elimination of the Advance Child Tax Credit and no Recovery Rebate Credit this year to claim pandemic-related stimulus payments, many taxpayers may find their refunds somewhat lower this year,” the IRS had said in a Jan. 23 news release.

    The U.S. government handed out three rounds of stimulus checks to Americans during the pandemic period. People could claim the missed first and second rounds of stimulus checks on the 2020 tax return. Any missed third-round stimulus checks were claimed in the 2021 return which was filed in the 2022 season.

    The federal government had also expanded the Child Tax Credit (CTC) program during the pandemic, boosting benefits per child from $2,000 to $3,600 for children under the age of 6, and to $3,000 for children between the ages of 6 and 17.

    The benefits of stimulus payments and CTC have now ended, thereby contributing to a lower refund amount during the 2023 filing season.

    Americans Concerned Over Smaller Tax Refunds

    Smaller tax refunds pose a major issue for Americans, according to the results of a Bankrate survey published last month. When asked how important the tax refund is to their overall financial situation, 43 percent said that the refunds are “very important” while 32 percent said it was “somewhat important.”

    Read more here…

    Tyler Durden
    Fri, 04/21/2023 – 19:40

  • California Meets 100% Of Water Requests For First Time Since 2006
    California Meets 100% Of Water Requests For First Time Since 2006

    Due to a wet winter and record mountain snowpack, California will provide 100% of the water requested by cities and farms, marking the first time in nearly two decades. 

    The office of California Governor Gavin Newsom released a statement Thursday that said, “State water contractors to 100% of requested supplies for 29 public water agencies that serve 27 million Californians.” 

    This is the highest water allocation since 2006, as state water officials rush to replenish groundwater and aquifers after years of drought. 

    “California is taking action to maximize the capture and storage of water from recent storms and snowpack, increasing water deliveries to 100% for the first time in nearly two decades.

    “California is moving and storing as much water as possible to meet the state’s needs, reduce the risk of flooding, and protect our communities, agriculture, and the environment,” said Governor Newsom.

    Since December, the deluge of atmospheric rivers dumped 78 trillion gallons of water in California, effectively ending a severe multi-year drought

    Many once-depleted reservoirs are filling up with over 80% full – and groundwater reserves have received a significant boost…

    Many regions received record snowpacks

    And the abundance of water has created a rare super bloom in the state’s southern region across hillsides. 

    However, the Department of Water Resources still urges people to limit water usage because one extremely wet year could be followed by more drought.  

    Tyler Durden
    Fri, 04/21/2023 – 19:20

  • House GOP Offers Border Crisis Solutions – Will Sound Policies Prevail?
    House GOP Offers Border Crisis Solutions – Will Sound Policies Prevail?

    Authored by Chad Wolf via RealClear Wire,

    To seemingly every American except Biden administration officials, there is an ongoing humanitarian and security crisis at the southern border. In just 26 months, the Biden administration has allowed approximately 4 million illegal aliens into American communities – a number larger than the population of the city of Los Angeles. When confronted with these realities, administration officials have continuously downplayed the situation and offered numerous excuses, including blaming the previous administration and falsely claiming they need new laws to solve the problem.

    However, the truth is that ample authority already exists to implement robust policies that discourage human traffickers from bringing illegal immigrants across the border and impose meaningful consequences on anybody who disregards the rule of law. This is exactly what we accomplished in the Trump administration. Unfortunately, Department of Homeland Security (DHS) Secretary Alejandro Mayorkas refuses to use his discretionary authority to secure the border, so House Republicans are calling the Biden administration’s bluff by introducing the Border Security and Enforcement Act, legislation designed to secure the border, end human trafficking, and defeat the cartels.

    The Biden administration would have the American people believe that border security simply means hiring more personnel to process migrants faster. But I believe border security requires a combination of building the physical border wall system, enforcing current immigration law, and reforming our broken asylum system. If you believe that the heavily exploited asylum system works just fine, then you accept the status quo and will likely oppose this border security package. However, if you think changes are needed, as I do, you should welcome this effort to end asylum fraud and the exploitation of vulnerable migrants.

    Here’s what’s in the bill and why I believe it’s a good first step.

    This seminal legislation curbs abuse of the asylum system by raising the standard for establishing credible fear. And for those who do pass the standard, it mandates detention or resumption of the highly successful Remain in Mexico policy. Currently, the asylum system is easily exploited by economic migrants and trafficking networks because the initial screening process for illegal aliens apprehended at the border – known as the credible fear interview – is easily passed, even with the most dubious of asylum claims. Under Biden administration policies, those who establish credible fear – around 80% of migrants – are released into American communities even though fewer than 15% will ultimately qualify for asylum. This incentivizes asylum fraud as the easiest ticket into the U.S. while delaying the ability to grant humanitarian relief to those persecuted migrants who are entitled to it under the law. The result of these provisions will be fewer bogus claims clogging up the immigration court system and a higher percentage – but lower total number – of aliens who are granted asylum after passing the credible fear test. It will also reduce the time between when an alien is apprehended at the border and when they receive humanitarian relief.

    The House Judiciary Committee is also seeking to end the cruel Biden administration policies that have incentivized the exploitation of the most vulnerable migrants. Various legal loopholes make it difficult to promptly return unaccompanied alien children unless they are Mexican or Canadian. The Biden administration has recklessly implemented policies to quickly hand these migrant kids over to sponsors without vetting them to the degree you saw during the Trump presidency. This has created the horrific yet preventable scenario of exploited children being handed off by the federal government to another trafficker who subjects these minors to a dark life of sex slavery and debt bondage. The border bill also closes this loophole that has traumatized untold hundreds of thousands of migrant children over the years. Another loophole has minimized the enforcement consequences against migrant families apprehended at the border. What results is a nefarious cottage industry where bad actors “recycle” migrant children to create fraudulent families to take advantage of being allowed into American communities. The border legislation ends this heinous practice.

    Additionally, the committee’s bill reins in the parole authority that DHS Secretary Mayorkas is exploiting to hide the extent of the border crisis. Parole is supposed to be a narrow authority that allows the DHS secretary to allow a visa-less or inadmissible alien into the U.S., but only on a case-by-case basis for either urgent humanitarian reasons or significant public benefit. Instead, Secretary Mayorkas is abusing this authority by creating unlawful nationality-based parole programs that redirect illegal aliens from the border to ports of entry with the benefit to the administration of no longer showing up in the monthly border apprehension numbers. The Border Security and Enforcement Act will put an end to this illegal use of the parole authority and prevent future administrations from circumventing the eligibility requirements established by Congress for legal immigration visa categories.

    The Judiciary Committee is offering workable solutions to solve the crisis created by the Biden administration’s failed border strategy. Will the administration pivot and embrace this legislation or continue to place politics over the sound policies the American people deserve?

    Chad Wolf is the former acting secretary of the Department of Homeland Security and executive director and chair of the Center for Homeland Security and Immigration at the America First Policy Institute.

    Tyler Durden
    Fri, 04/21/2023 – 19:00

  • Oracle Drops UK-Based Disinfo Nannies After Conservative Blacklisting Cited In Lawsuit
    Oracle Drops UK-Based Disinfo Nannies After Conservative Blacklisting Cited In Lawsuit

    Gabe Kaminsky of the Washington Examiner is out with another report on the Global Disinformation Index (GDI), a UK-based group which targets and blacklists conservative websites in order to drain them of revenue and support by working with “advertisers and the ad tech industry in assessing the reputational and brand risk when advertising with online media outlets and to help them avoid financially supporting disinformation online.”

    As Kaminsky reports, software giant Oracle announced on Wednesday that it will no longer collaborate with GDI, which has received just under $666,000 from the US State Department between 2020 and 2021. The news comes one day after GDI was cited in a lawsuit against the Biden administration which claims the government has colluded with big tech to censor free speech.

    This same British entity, which has two affiliated United States nonprofit groups that have come under fire for shielding information from their 2021 tax forms, was cited in a Tuesday friend-of-the-court brief filed by Alliance Defending Freedom in State of Louisiana v. Biden — a lawsuit filed in May 2022 that claims the government has colluded with Big Tech to stifle discourse online. -Washington Examiner

    “All signs point to a growing government influence over social media,” reads the brief. “The Biden Administration admitted as early as 2021 that it was flagging and reporting posts on Facebook, YouTube, and other platforms as COVID-19-related ‘misinformation.’ A recent report found that the U.S. State Department sent $330 million [sic] to The Global Disinformation Index, a British organization that is attempting to discredit and blacklist many conservative news outlets for peddling ‘disinformation.'”

    Kaminsky notes that the brief mistakenly attributes $330 million sent to the National Endowment for Democracy to the GDI, when in reality the NED has granted money to GDI out of the $330 million. Following the Examiner‘s reporting on the grants, the NED announced in late February that they were cutting off funding to GDI.

    Louisiana v. Biden was brought forth by Republican attorneys general Jeff Landry of Louisiana and then-Missouri’s Eric Schmitt, now a senator for The Show-Me State. The lawsuit alleges that the Biden administration infringed on the public’s First Amendment Rights through its efforts working with Big Tech employees to engage in content moderation related to election integrity, COVID-19, Hunter Biden’s infamous abandoned laptop, and more.

    For instance, Landry released a document in January showing that the White House urged a Facebook employee in April 2021 to restrict posts about Fox News host Tucker Carlson claiming that there have been efficacy issues with “vaccines.” The White House also told Facebook in May 2021 that “slowing down” posts appearing to be “anti-vax” would be “reasonable,” and also urged Twitter to remove a post by anti-vaccine critic Robert Kennedy, Jr., who recently announced his Democratic bid for White House in 2024, documents show. -Washington Examiner

    “Government should be freedom’s strongest defender, not its greatest threat,” said senior counsel for Alliance Defending Freedom, Travis Barham, in a Wednesday statement. “Americans don’t look to the White House or Silicon Valley to discover and express the truth. That’s not the role of government, and it certainly isn’t the role of Big Tech.”

    Oracle, meanwhile, told the Examiner that it would no longer maintain a relationship with GDI, which they had previously announced a 2021 collaboration with in order to engage in “brand safety.”

    “After conducting a review, we agree with others in the advertising industry that the services we provide marketers must be in full support of free speech, which is why we are ending our relationship with GDI,” said Michael Egbert, vice president for corporate communications at Oracle.

    Microsoft has similarly launched an internal investigation into its partnership with GDI after ad industry whistleblowers revealed how conservative sites were being blacklisted by the Microsoft-owned Xandr as “false/misleading” , “reprehensible/offensive” , or “hate speech.”

    Meanwhile, GDI’s co-founder and CEO Clare Melford was sent a letter on Tuesday by Rep. Ken Buck (R-CO), who demanded its two affiliated nonprofit groups in the U.S. release a “complete and unredacted list of donors.The letter came days after a Washington Examiner investigation revealed that the private AN Foundation, also known as the Disinformation Index Foundation, and its affiliated public charity, Disinformation Index Inc., are shielding items like board members, officers, and donors from tax forms, while claiming to be “harassed” under a little-known federal exemption law. -Washington Examiner

    “This is outrageous,” said Paul Kamenar, counsel to the National Legal and Policy Center, a conservative watchdog that plans to file an IRS complaint against both GDI groups, in a statement last week.

    Tyler Durden
    Fri, 04/21/2023 – 18:40

  • Controversial mRNA Technology Now Targeting Livestock
    Controversial mRNA Technology Now Targeting Livestock

    Authored by Allan Stein via The Epoch Times (emphasis ours),

    At least five states have introduced bills restricting the use of controversial mRNA technology or gene therapies in livestock or demand full disclosure to consumers on product packaging.

    The states considering legislation include North Dakota, Tennessee, Arizona, Idaho, and Missouri.

    Idaho House Bill 154 would make it a misdemeanor offense for anyone who provides or administers a vaccine using mRNA technology “for use in an individual or any other mammal in this state.”

    Arizona House Bill 2762 requires conspicuous labeling of all aquatic, livestock, or poultry products that received mRNA vaccines, and prohibits these products from being labeled as organic.

    Tennessee House Bill 0099 amends an existing law to prohibit the manufacture or sale of livestock or meat that contains mRNA “vaccine of vaccines materials” without a conspicuous label that there are such ingredients in the product.

    In North Dakota, state lawmakers filed SB2384, which seeks to ban the use of mRNA vaccines in humans and to introduce a penalty for anyone breaking the prohibition.

    Missouri State Rep. Holly Jones, a Republican, is the lead sponsor of a bill requiring product labeling of all livestock meat containing “potential gene therapy products.

    We label everything around the world. We label non-GMO. We label GMO. We label grass-fed. We label no antibiotics used. We label manufactured in a plant that has nuts,” Jones said.

    “We should label anything that has not been proven safe and effective. As we’ve seen with the COVID vaccines, they’re neither safe nor effective. Even the CDC has come out with that.”

    While HB1169 does not mention mRNA by name, the proposed ban would include all “potential gene therapy products.”

    The House Emerging Issues subcommittee will review an amended bill on April 19. Jones is a member of that committee.

    The bill would require labeling of any product created to act as a potential gene therapy, or that could “otherwise possibly impact, alter, or introduce genetic material or a genetic change into the user of the product.”

    Cattle in Lismore, New South Wales state, in Australia on March 1, 2022. (SAEED KHAN/AFP via Getty Images)

    It would include anyone exposed to the product or people “exposed to others who have used the product.”

    With the passage of HB1169, the law would require livestock farmers and producers in Missouri to fully display on product packaging mRNA technology used in cows, pigs, and other livestock under the rule of informed consent.

    Already In Development

    “They would have to tell us if they begin using those things. As it is currently, almost all states do not,” Jones said.

    Jones said she confirmed through multiple agricultural sources that mRNA programs for U.S. livestock are “in the works.”

    It is in the pipeline. Australia is already doing that.”

    According to a statement from the Queensland government in Australia, scientists are working to develop an mRNA-related vaccine to combat the threat of Lumpy Skin Disease (LSD) in beef cattle with $1.5 million invested.

    “A new mRNA vaccine would be a game changer as the live virus vaccines currently available overseas cannot be used in Australia,” said Mark Furner—the Minister for Agricultural Industry Development and Fisheries and Minister for Rural Communities—in the statement.

    “Using existing vaccines here would result in us losing our disease-free status,” Furner added.

    A screenshot of the Queensland government announcing the creation of an mRNA vaccine for cattle, on April 19, 2023. (Screenshot by The Epoch Times)

    With mRNA technology, as in COVID-19 vaccines, the injections introduce a virus fragment into cells, teaching them how to produce a specific antibody against the disease.

    The Veterinary Microbiology and Preventive Medicine Department at Iowa State University is developing an mRNA-based cattle vaccine for the bovine respiratory syncytial virus (RSV).

    Untreated, RSV can lead to pneumonia in cows.

    The federal grant program aims to develop a “novel mRNA system” that provides immune protection against RSV.

    “We hypothesize that a [mRNA injection] delivered continuously by vaccine implant will lead to prolonged and robust cellular and antibody immunity,” according to a program summary in the U.S. Department of Agriculture’s Research, Education, and Economics Information System (REEIS).

    “Here, we will optimize our vaccine further and then test for potential correlates of protection to examine for in eventually challenged cows.”

    No Labeling of Foreign Meat

    In 2016, the U.S. Congress removed a labeling law requiring the country of origin on meat products.

    Read more here…

    Tyler Durden
    Fri, 04/21/2023 – 18:20

  • Lyft Will Lay Off At Least 1,200 Employees To Slash Costs
    Lyft Will Lay Off At Least 1,200 Employees To Slash Costs

    With a new CEO at the helm, rideshare platform Lyft will cut at least 1,200 jobs as the firm strives to compete with larger rival Uber, The Wall Street Journal reported on Friday. 

    That’s a huge cut for a company with close to 4,000 employees, and comes on top of a 700-person layoff in November. A source familiar with Lyft’s workforce plans said the cuts could hit more than 30% of the staff — and help Lyft achieve a 50% cut in ongoing costs.  

    Lyft stock, which traded at $80 after its 2019 IPO, closed Friday at just $10.44. While that was a 6% gain from Thursday, the shares are down about 10% on the year, while Uber is up 21%.  

    Lyft stock is down about 88% since its IPO

    In March, Lyft announced that board member David Risher would take over, with co-founders John Zimmer and Logan Green backing away from their daily management roles. This is Risher’s first week in charge. 

    After the Journal broke the story of the major pending layoff, Risher sent a note to employees, saying “we need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth.”

    “Departing employees will receive at least 10 weeks of pay, with additional weeks for team members with 4+ years with Lyft,” wrote Risher, along with “accelerated equity vesting for the May 20 vesting date.” Health coverage will extend to Halloween.

    He didn’t outline the scope of the layoffs, but said more information would come next week. Ominously, all Lyft offices will be closed on Thursday April 27. The company will notify fired employees that day via emails sent at 8:30am Pacific time. “I own this decision, and understand that it comes at an enormous cost,” said Risher.   

    Uber’s diversification into food and beverage deliver paid off big when the Covid-19 pandemic hit. As rideshare volumes fell precipitously, Uber cashed in on delivering to homebound victims of the lockdown regime. 

    That’s enabled Uber to squeeze Lyft on price. “On a per-mile basis, Lyft fares are about 31% higher compared with 2019 while Uber’s are 20% higher,” reports Bloomberg, citing YipitData. Lyft has a 25% US market share, compared to 75% for Uber. 

    “I think being a strong number two is a good place to be,” said Risher after his move to the CEO slot was announced. “I like where we are, but we’ve got real work to do to fight it out a little bit.” 

    Also in March, Risher declared Lyft is not for sale — promptly sinking the stock by 7%

    Tyler Durden
    Fri, 04/21/2023 – 18:00

  • WV’s Morrisey Takes On The Woke And The Swamp
    WV’s Morrisey Takes On The Woke And The Swamp

    Authored by Benjamin Weingarten via RealClear Wire,

    As attorney general of West Virginia, Patrick Morrisey has been a scourge of the administrative state, combatting what he perceives to be federal government overreach into the life and commerce of the Mountaineer State.

    On April 4, Morrisey announced that he is joining a crowded field seeking the Republican nomination in West Virginia’s 2024 gubernatorial race.

    During that speech, Morrisey emphasized his aims, should he be elected governor: to increase economic opportunity, expand school choice, and fight the “swamps” from Washington D.C. to Charleston.

    The attorney general also touched on his opposition to the COVID-19 vaccine mandates, his pro-life, and pro-Second Amendment stances, and his devotion to fighting the fentanyl epidemic that has ravaged the state. In a sign of the times, Morrisey elicited perhaps one of his biggest cheers from supporters when he asserted that “Men are biologically different from women. And I’m not afraid to say that.”

    This Q&A, conducted by Ben Weingarten, is a follow-up to an interview conducted with the attorney general last December. Morrisey was asked about his motivations for seeking out the governorship, national implications to his race, his view of the indictment of President Donald Trump – which occurred on the day of the interview – and more.

    What follows is a lightly edited transcript of the interview, conducted by phone:

    Ben Weingarten: What is your motivation for pursuing the governorship?

    AG Patrick Morrisey: I think there’s an opportunity to really help West Virginia reach full potential. And looking at this opportunity, I’m the only proven conservative in the race, with a deep record of fighting and winning against the elites, defending our values, accomplishing big things. If people like the work that I do as attorney general, they’re really gonna love me as governor because we’re gonna bring the whole force of the executive branch of West Virginia to bear on the most difficult challenges faced in West Virginia and our country …We [would] have the additional tools of governor that we’re gonna utilize to defend our values and to help improve the standard of living in our state, supercharge economic workforce growth, to grow our population, and to really be the foil against the woke left and the elites who’re coming against us.

    BW: What do you see as the key pillars of your agenda?

    PM: Well, right now, West Virginians are being ravaged by inflation, and we need to protect our jobs. We need to fight to put more money in people’s pockets. I mean, the value of money has declined because of this terrible inflation, and so it has to be a focus that West Virginians have a state government that’s looking out for them. And I think that means lowering taxes even more, reducing regulatory burdens. But then we [also] really have to focus on advancing education excellence.

    So, I want to dramatically expand our school choice programs, because I think that that provides a huge opportunity for kids. Our kids are our future. And so education is to be a big part of it.

    And then we have to get to work on workforce growth and growing our population. West Virginia right now is the lowest workforce participation rate in the nation. That has to change, and it has to change fast. One of the things that I’m eager to do is to convert a lot of the 65,000 job openings that are in place right now and get people employed in those jobs quickly. That’ll supercharge our economy, and then we could use those additional revenues to put more money back in people’s pockets, the folks that are struggling paycheck to paycheck.

    BW: What do you see as the national implications, if any, to this gubernatorial race?

    PM: I think running for governor, folks across the country and in West Virginia are going to know that there’s gonna be no one stronger to build these critical state coalitions that are gonna take on federal overreach and the woke ideas. West Virginia will have someone who can honestly say and demonstrate that woke ideas stop at the border. So I’m going to provide an example for the rest of the country about how to run the railroad, how to make sure that you can succeed and flourish in a state that values freedom and lower taxes and is very welcoming. This is what West Virginia is all about. And we need to message that. We also are going to make it clear that we’re not going to be listening to the political elites, we’re going to put the people first, and that means speaking out on issues. So West Virginia is going to have a very loud voice, we won’t shy away from the tough issues, we won’t go quietly into the night.

    BW: We’re talking the day of the first of maybe several indictments to come against former President Trump, and there’s widely seen by millions of Americans to be a two-tier justice system in this country where if you hold the wrong views, you pay to the nth degree, and if you hold the right views, you’re protected. What ought red states do to confront it?

    PM: Look… what’s going on right now in New York is a major travesty of the judicial system. It makes New York look like a banana republic. That’s utterly unacceptable, it’s a political prosecution. We know that the other side worries about winning debates, and they may not be able to win at the polling booth, so they’re going to resort to the political prosecutions of a lot of people on our side who are running for office. We have to make clear that that’s completely unacceptable, and that should be a position that unifies not only all Republicans, but Independents, and many Democrats as well. This is an abuse of power, and we need to say so, but I think the American public will be behind us.

    BW: There’s been something of a censorship industrial complex that’s been imposed via federal authorities working hand-in-hand with Big Tech companies, academics, researchers, and the like. There also seems to be a similar burgeoning movement at the state level. Would you let any sort efforts like those stand in West Virginia, or will you combat them?

    PM: Look, I think that we need to be very clear that this is an us-against-them scenario – that you have some people who are advancing woke ideas and they’ll stop at nothing to indoctrinate our children and to force their values upon us. We have to stand up and fight back against that, and when I see Big Tech, when I see people trying to tilt the playing field in favor of these woke ideas, people are gonna know that the West Virginia governor is standing up against that, and saying “No.” And so, I would be looking for any way to make sure that free speech is going to operate in West Virginia, but when people try to abuse the system, they’re gonna be called out for it.

    Tyler Durden
    Fri, 04/21/2023 – 17:40

Digest powered by RSS Digest

Today’s News 21st April 2023

  • Speak Your Truth: Don't Let The Government Criminalize Free Speech
    Speak Your Truth: Don’t Let The Government Criminalize Free Speech

    Authored by John & Nisha Whitehead via The Rutherford Institute,

    “If freedom of speech is taken away, then dumb and silent we may be led, like sheep to the slaughter.”

    – George Washington

    What the police state wants is a silent, compliant, oblivious citizenry.

    What the First Amendment affirms is an engaged citizenry that speaks truth to power using whatever peaceful means are available to us.

    Speaking one’s truth doesn’t have to be the same for each person, and that truth doesn’t have to be palatable or pleasant or even factual.

    We can be loud.

    We can be obnoxious.

    We can be politically incorrect.

    We can be conspiratorial or mean or offensive.

    We can be all these things because the First Amendment takes a broad, classically liberal approach to the free speech rights of the citizenry: in a nutshell, the government may not encroach or limit the citizenry’s right to freedom of religion, speech, press, assembly and protest.

    This is why the First Amendment is so critical.

    It gives the citizenry the right to speak freely, protest peacefully, expose government wrongdoing, and criticize the government without fear of retaliation, arrest or incarceration.

    Nowhere in the First Amendment does it permit the government to limit speech in order to avoid causing offense, hurting someone’s feelings, safeguarding government secrets, protecting government officials, discouraging bullying, penalizing hateful ideas and actions, eliminating terrorism, combatting prejudice and intolerance, and the like.

    When expressive activity crosses the line into violence, free speech protections end.

    However, barring actual violence or true threats of violence, there is a vast difference between speech that is socially unpopular and speech that is illegal, and it’s an important distinction that depends on our commitment to safeguarding a robust First Amendment.

    Increasingly, however, the courts and the government are doing away with that critical distinction, adopting the mindset that speech is only permissible if it does not offend, irritate, annoy, threaten someone’s peace of mind, or challenge the government’s stranglehold on power.

    Take the case of Counterman v. Colorado which is before the U.S. Supreme Court.

    Under the pretext of clamping down on online stalking, Colorado wants the power to be able to treat expressive activities on social media as threats without having to prove that the messages are both reasonably understood as threatening an illegal act and intended by the speaker as a threat.

    While protecting people from stalking is certainly a valid concern and may be warranted in this particular case, the law does not require speech to be a “true threat” in order to be criminally punished. The Supreme Court has defined a “true threat” as “statements where the speaker means to communicate a serious expression of an intent to commit an act of unlawful violence to a particular individual or group of individuals.”

    Indeed, Colorado’s stalking law is so broad that a person can be charged with stalking for repeatedly contacting, surveilling or communicating with an individual in such a way that a reasonable person would feel serious emotional distress.

    In the absence of any substantive guidelines on what constitutes a true threat on social media, such laws could empower the government to misinterpret any speaker’s intent and meaning in order to criminalize legitimate political speech that is critical of government officials and representatives.

    Case in point: in Oklahoma, a street preacher who expressed his moral outrage over public drag queen performances that occur in front of children and churches that endorse same-sex marriage was given a five-year restraining order and threatened with arrest after citing Bible verses on social media about God’s judgment of sin.

    The Rutherford Institute has taken on the case, warning that the ramifications of it going unchallenged could render anyone who quotes the Bible a criminal if it makes a listener feel unsafe or threatened or judged.

    This is what it means to criminalize free speech: it turns those who exercise their free speech rights into criminals.

    This criminalization of free speech, which is exactly what the government’s prosecution of those who say the “wrong” thing using an electronic medium amounts to, was at the heart of Elonis v. United States, a case that wrestled with where the government can draw the line when it comes to expressive speech that is protected and permissible versus speech that could be interpreted as connoting a criminal intent.

    The case arose after Anthony Elonis, an aspiring rap artist, used personal material from his life as source material and inspiration for rap lyrics which he then shared on Facebook.

    For instance, shortly after Elonis’ wife left him and he was fired from his job, his lyrics included references to killing his ex-wife, shooting a classroom of kindergarten children, and blowing up an FBI agent who had opened an investigation into his postings.

    Despite the fact that Elonis routinely accompanied his Facebook posts with disclaimers that his lyrics were fictitious, and that he was using such writings as an outlet for his frustrations, he was charged with making unlawful threats (although it was never proven that he intended to threaten anyone) and sentenced to 44 months in jail.

    The question the U.S. Supreme Court was asked to decide in Elonis was whether his activity, in the absence of any overt intention of committing a crime, rose to the level of a “true threat” or whether it was protected First Amendment activity.

    In an 8-1 decision that concerned itself more with “criminal-law principles concerning intent rather than the First Amendment’s protection of free speech,” the Court ruled that prosecutors had not proven that Elonis intended to harm anyone beyond the words he used and context.

    That was back in 2015.

    Despite the Supreme Court’s ruling in Elonis, Corporate America has taken the lead in policing expressive activity online, with social media giants such as Facebook, Twitter and YouTube using their formidable dominance in the field to censor, penalize and regulate speech and behavior online by suspending and/or banning users whose content violated the companies’ so-called community standards for obscenity, violence, hate speech, discrimination, conspiracy theories, etc.

    The fallout is as one would expect.

    The internet has become a forum for the government—and its corporate partners—to monitor, control and punish the populace for speech that may be controversial but is far from criminal.

    Everything is now fair game for censorship if it can be construed as hateful, hurtful, bigoted or offensive provided that it runs counter to the established viewpoint.

    In this way, the most controversial issues of our day—race, religion, sex, sexuality, politics, science, health, government corruption, police brutality, etc.—have become battlegrounds for those who claim to believe in freedom (of religion, speech, assembly, press, redress, privacy, bodily integrity, etc.) but only when it favors the views and positions they support.

    In more and more cases, the government is declaring war on what should be protected political speech whenever it challenges the government’s power, reveals the government’s corruption, exposes the government’s lies, and encourages the citizenry to push back against the government’s many injustices.

    Indeed, there is a long and growing list of the kinds of speech that the government considers dangerous enough to red flag and subject to censorship, surveillance, investigation and prosecution: hate speech, conspiratorial speech, treasonous speech, threatening speech, inflammatory speech, radical speech, anti-government speech, extremist speech, etc.

    In recent years, the government has used the phrase “domestic terrorist” interchangeably with “anti-government,” “extremist” and “terrorist” to describe anyone who might fall somewhere on a very broad spectrum of viewpoints that could be considered “dangerous.”

    As I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, the ramifications are so far-reaching as to render almost every American an extremist in word, deed, thought or by association.

    You see, the government doesn’t care if you or someone you know has a legitimate grievance. It doesn’t care if your criticisms are well-founded. And it certainly doesn’t care if you have a First Amendment right to speak truth to power.

    It just wants you to shut up.

    Yet no matter what one’s political persuasion might be, the right to disagree with and speak out against the government is the quintessential freedom. When exercised regularly and defended vigorously, these First Amendment rights serve as a bulwark against tyranny.

    Tyler Durden
    Thu, 04/20/2023 – 23:40

  • The Timeline Of Cannabis Legislation In The US
    The Timeline Of Cannabis Legislation In The US

    On this 4/20, we take a moment to reflect on the fact that at the federal level, cannabis is still considered an illegal substance.

    However, as Visual Capitalist’s Avery Koop notes, individual states do have the right to determine their own laws around cannabis sales and usage.

    This visual from New Frontier Data looks at the status of cannabis in every state and the timeline of when medical and/or recreational use became legal.

    Cannabis Through the Years

    In the U.S., the oldest legalese concerning cannabis dates back to the 1600s—the colony of Virginia required every farm to grow and produce hemp. Since then, cannabis use was fairly wide open until the 1930s when the Marihuana Tax Act was enforced, prohibiting marijuana federally but still technically allowing medical use.

    Jumping ahead, the Controlled Substances Act was passed in 1970, classifying cannabis as Schedule I drug—the same category as heroin. This prohibited any use of the substance.

    However, the 1970s also saw a counter movement, wherein many states made the move towards decriminalization. Decriminalization means that although possessing cannabis remained illegal, a person would not be subject to jail time or prosecution for possessing certain amounts.

    By the 1990s, some of the first states passed laws to allow the medical usage of cannabis, and by 2012 two states in the U.S.—Washington and Colorado—legalized the recreational use of cannabis.

    Cannabis Legislation Today and Beyond

    The MORE Act (the Marijuana Opportunity Reinvestment and Expungement Act) was passed in the House early 2022, and if made law, it would decriminalize marijuana federally.

    “This bill decriminalizes marijuana. Specifically, it removes marijuana from the list of scheduled substances under the Controlled Substances Act and eliminates criminal penalties for an individual who manufactures, distributes, or possesses marijuana.”– U.S. CONGRESS

    Cannabis still remains illegal at the federal level, but at the state levels, cannabis is now fully legal (both for medicinal and recreational purposes) in a total of 22 states.

    Over 246 million Americans have legal access to some form of marijuana products with high THC levels. Looking to the future, many new cannabis markets are expected to open up in the next few years:

    The earliest states expected to open up next for recreational cannabis sales are Minnesota and Oklahoma. There is always a lag between legalization and actual sales, wherein local regulatory bodies and governments set standards. States like Kentucky, on the other hand, aren’t likely to even legalize medicinal cannabis until 2028.

    It’s estimated that by 2030, there will be 69 million cannabis consumers in the country, up 33% from 2022.

    Overall, the U.S. cannabis market is likely an important one to watch as legal sales hit $30 billion in 2022. By the end of the decade, that number is expected to be anywhere from $58 billion to as much as $72 billion.

    Tyler Durden
    Thu, 04/20/2023 – 23:20

  • The Discord Leaks: Justification To Quash Encrypted Messaging?
    The Discord Leaks: Justification To Quash Encrypted Messaging?

    Authored by Marie Hawthorne via The Organic Prepper blog,

    On April 13, the FBI took 21-year-old Air National Guardsman Jake Teixiera into custody for posting top secret military documents on a private Discord chat group. A large amount of classified information has been exposed, and people want answers. Why is this young man getting arrested when other people leak to the press all the time? Who gives a 21-year-old top-secret clearance? Are there some other, less-obvious motives at work here?

    First, let’s look at the leaks.

    Let’s look first at the leaks themselves. In early March, classified documents started popping up on a public Discord channel. They had originally been posted in a private, invitation-only chat group on Discord with a few dozen members in December 2022 or January 2023. At some point, one of the private group members started posting the classified documents to a public group. And once on the public group, the classified documents rapidly made their way around the internet. (source)

    • This series of leaks provided evidence that American intelligence had been spying on allies in Israel and South Korea. (source)

    • We had also been collecting intelligence on United Nations Secretary-General Antonio Guterres (source)

    • There was a discussion of Egypt producing weapons for Russia, despite receiving over $1 billion per year from the Americans. (source) Egyptian and American officials both denied this vehemently.

    • Some of the leaked documents included information about a spring offensive in Ukraine. They also indicated that American leaders are not confident in Ukraine’s ability to successfully launch an offensive this spring, due to a lack of trained personnel. (source)

    • Nonetheless, despite a grim outlook for a Ukrainian spring offensive, no one is anticipating peace talks between Kyiv and the Kremlin in 2023. (source) The powers that be are prepared for 2023 to consist of a long, slow grind for Ukrainian and Russian troops.

    • Leaked information also includes the fact that American Special Forces groups have been in Ukraine for some time. (source) contrary to repeated statements about how no American boots were ever going to be on the ground. (source)

    • Information about a spring offensive could, in theory, jeopardize troops on the ground, though the Russians don’t seem to be taking the leaked information particularly seriously. Speculation within the pro-Russian channels seems to be that this is some kind of decoy. (source)

    The rest of the leaked information provides a window into how the government actually works. Spying on allies and a fantastic disregard for taxpayer dollars—it sounds bad, but is it really surprising? And lying about American troops being on the ground? It’s less shocking, and more evidence of things many of us had suspected anyway.

    What will happen to Jake Teixeira?

    Either way, it looks like young Jake Teixeira is headed to jail, probably for at least ten years

    If you grew up in a family full of soldiers and government employees, you might think, “Good, he’s a traitor.” But keep in mind information from the government gets leaked to the press all the time. New York Times reporter David Philipps admitted on Twitter that “The NYT worked feverishly to find the identity of the guy leaking TS docs on Discord. Ironically, if the same guy had leaked to the NYT, we’d be working feverishly to conceal it.”

    Mr. Philipps removed his tweet after a short time, but independent journalist Glenn Greenwald took a screenshot of it and you can still see it on his Twitter feed here.

    Honest, independent journalists are an essential part of what a free country is supposed to represent. In a free nation, the citizens hold the government accountable for their actions; how on earth is that supposed to happen if no one has any idea what the government is actually up to?

    And even fifteen years ago, mainstream sources still seemed to see it this way. Back in 2011, the New York Times published information from Julian Assange’s Wikileaks, which contained information at least as volatile as the recently released information.

    In this case, however, the Washington Post and New York Times actively helped federal law enforcement track down the leaker.  Whistleblower, Inc. immediately distanced itself from Teixeira, saying he doesn’t really count as a whistleblower/

    So, why the about-face? A free press relies upon and has to support its sources of information. How did mainstream American press go from champions of free speech to actively hunting down leakers?

    Let’s just look at the history of leaking over the past fifteen years.

    Did you know that Obama’s administration prosecuted intelligence leaks more aggressively than any other administration in history? As of 2014, his administration had secured 526 months of prison time for various leakers. That compares to a total of 24 months of jail time issued by every other administration since the Revolutionary War. (source) The crackdown on intelligence leaks during his 8 years was completely unprecedented.

    What about Trump’s presidency? Were leakers of sensitive information so relentlessly prosecuted?

    Not if they published anything that made Trump look bad. General Michael Flynn, who was arguably just doing his job when he contacted the Russian government after he was appointed Trump’s national security advisor, had his conversations with the Russian ambassador recorded and then leaked to the press.

    Releasing contents of phone calls between foreign ambassadors and the government is officials is far more damaging than anything released by Teixeira. Just for starters, it shows foreign governments around the world that Americans cannot exercise discretion. In his “System Update #70” on Rumble, Glenn Greenwald did a thorough analysis of why Gen. Flynn’s leaked transcript was so potentially damaging and, under other circumstances, could have led to jail time both for the leaker as well as the journalists publishing that information.

    So, was that leaker mercilessly hunted down and prosecuted? Did any journalists look at jail time?

    No. Mainstream media positively celebrated it; Brian Stelter’s self-congratulatory platitudes about the “free press” are totally nauseating.

    MSNBC’s Joe Scarborough referred to the leaker of Flynn’s conversation as “a patriot.”

    The New Yorker’s Evan Osnos tweeted, “. . .principled public servants who got the story out are hidden heroes.”

    So, is Jake Teixeira being treated as a patriot or a principled public servant? Not quite. National Security Council spokesperson John Kirby stated that “This is information that has no business in the public domain. It is not intended for public consumption, and it should not be out there.” But if this leak of information is so catastrophic, why are those same media outlets that helped find Teixeira reporting the material in the leaks? Given the number of articles generated by the Times, the Post, the BBC, and other major outlets, the leaks obviously contained a great deal of newsworthy information. Does anyone else smell hypocrisy here?

    Who is Jake Teixeira, and how did he get top-secret clearance?

    Maybe more significantly, if this leak of documents was so severe that a young Air National Guardsman is looking at more than a decade of jail time, why are no higher-ups getting prosecuted? Who gives top security clearance to a 21-year-old, anyway?

    I spent time dating a 21-year-old National Guardsman when I was young. This is a demographic putting bags of dog poop on porches and lighting them on fire. Do many of them grow up to be mature, responsible adults? Oh, absolutely. But 21-year-olds are barely adults. Right now, mainstream sites like NPR are focusing on Teixeira’s apparent fondness for racist memes. if someone is not mature enough to understand that online jokes follow you for the rest of your life, why would they be mature enough to handle truly sensitive information?

    And how does this not come up during the clearance process? Okay, so Teixeira had a bad sense of humor; who cleared him? I have heard absolutely nothing about any higher-ups facing consequences over this, and I guess that shouldn’t be surprising.

    How will this affect encrypted messaging? And is that the point?

    This may all be beside the point. Let’s talk about the method of release itself. These leaks have been referred to as the “Discord Leaks.” Discord is a messaging app. It doesn’t use end-to-end encryption, just the standard HTTPS encryption that allows people to communicate privately.

    Federal law enforcement agencies have had private messaging apps in their crosshairs for some time now, as we discussed a few months ago. The EARN IT Act, which is still in the Senate, would essentially ban end-to-end encryption and make private messages easier for law enforcement to access.

    There have been a couple of versions of EARN IT in the works since 2020; they haven’t passed. Too many Americans are still concerned about privacy.

    However, is it possible that someone let these leaks percolate through Discord in hopes of giving the government an ironclad reason to force messaging apps to divulge information about private conversations? Because of national security?

    What do you think is really going on here?

    I don’t know if this is the case; I’m just speculating. But ask yourself what is believable.

    Would access to such supposedly sensitive information be given to a young man with an irresponsible online history? Are more senior personnel capable of taking advantage of this situation to advance an agenda they’ve publicly had for some time now?

    What do you think about all this? Should Teixeira be harshly prosecuted, or should he be protected as a whistle-blower? Is there another agenda at play here?

    Tyler Durden
    Thu, 04/20/2023 – 23:00

  • ATF Director Unable To Define "Assault Weapon" Despite Biden's Call For Ban
    ATF Director Unable To Define “Assault Weapon” Despite Biden’s Call For Ban

    At a House Appropriations subcommittee hearing, Rep. Jake Ellzey (R-Texas) asked Bureau of Alcohol, Tobacco, and Firearms (ATF) Director Steve Dettelbach a simple question: “In 15 seconds, would you define an ‘assault weapon’ for me?”

    Dettelbach, who is supposed to be an expert in all things firearms and explosives, appeared before the subcommittee hearing on Tuesday. He responded to Ellzey by admitting he could not answer the question because he isn’t a “firearms expert.” 

    “I’ll go shorter than that, because honestly, if Congress wishes to take that up, I think Congress would have to do the work, but we would be there to provide technical assistance. I, unlike you, am not a firearms expert to the same extent as you maybe, but we have people at ATF who can talk about velocity of firearms, what damage different kinds of firearms cause, so that whatever determination you chose to make would be an informed one.” Dettelbach answered.

    https://platform.twitter.com/widgets.js

    Despite years of advocating for assault weapon bans, the head of the ATF has never provided a clear definition of what qualifies as an assault weapon.

    Firearms blog Bearing Arms had this to say about Dettelbach’s response:

    We’re supposed to believe that the director of the Bureau of Alcohol, Tobacco, Firearms, and Explosives has no earthly idea how to define “assault weapons”, despite the fact that his boss calls for them to be banned on a weekly basis and Democrats in states like Michigan, Colorado, and Washington are currently trying to prohibit their sale or possession? Gimme a break.

    Dettelbach’s response wasn’t ignorant, it was political. The truth is that “assault weapon” has no real definition other than “gun someone wants to ban.” What’s considered an “assault weapon” in New York may not be an “assault weapon” in Ilinois, while California lawmakers have gone back and redefined “assault weapon” on multiple occasions since enacting its first ban back in 1989.

    But Dettelbach can’t go on the record as admitting that, especially with Biden making his own vague and vacuous demands for an “assault weapons” ban any time a shooting generates national headlines (even when the killer used a handgun). Instead he tried to punt the issue back to Congress, but in doing so he implicitly acknowledged what he couldn’t say out loud; an “assault weapon” is whatever anti-gun lawmakers say it is, and whatever convoluted definition they do come up with will most certainly impact millions of law-abiding Americans and some of the most popular and commonly-owned firearms sold today.

    … and Rep. Troy Nehls (R-Texas) tweeted:

    “Joe Biden’s ATF Director just testified in a Congressional hearing that he’s not a firearms expert. Wow. Maybe the ATF shouldn’t be regulating your firearms then.”

    Supporters of the Second Amendment can appreciate the ATF head’s honesty, at the very least.

    Tyler Durden
    Thu, 04/20/2023 – 22:40

  • House China Committee To War-Game A Chinese Invasion Of Taiwan
    House China Committee To War-Game A Chinese Invasion Of Taiwan

    Authored by Dave DeCamp via AntiWar.com,

    The House’s new panel on China will be war gaming a Chinese invasion of Taiwan to explore ways the US can respond in the latest example of the US government preparing for a future conflict with Beijing.

    Axios reported that on Wednesday evening, members of the China committee, which is led by Rep. Mike Gallagher (R-WI), will take the role of US officials in the war game that will be conducted by a Center for a New American Security (CNAS).

    Image: Google Earth/CNN

    CNAS is a hawkish think-tank that receives funding from US arms makers and the Taiwanese government through the Taipei Economic and Cultural Representative Office, Taiwan’s de facto embassy.

    Several members of the Biden administration came from CNAS, including Kurt Campbell, a co-founder of the think tank who now serves as President Biden’s top Asia official on the National Security Council.

    China hawks in Congress argue that the US must continue ramping up support for Taiwan to deter a Chinese invasion.

    “We need to be moving heaven and earth to enhance our deterrence and denial posture so that Xi Jinping concludes that he just can’t do it,” Gallagher told AP.

    But China’s recent rhetoric and actions have demonstrated that more US support for Taiwan puts the island under greater Chinese military pressure.

    https://platform.twitter.com/widgets.js

    Beijing just concluded massive live-fire drills around Taiwan that were launched in response to Taiwanese President Tsai Ing-wen’s meeting with House Speaker Kevin McCarthy (R-CA) in California.

    Tyler Durden
    Thu, 04/20/2023 – 22:20

  • US Prepping Military-Led Evacuation Of Embassy Staff From Sudan
    US Prepping Military-Led Evacuation Of Embassy Staff From Sudan

    The recent breakout of civil war for control of the Sudanese capital city of Khartoum led by rival generals has prompted the US government to ready contingency plans to evacuate American embassy personnel who are currently sheltering in place

    US Africa Command (AFRICOM) said in a Thursday statement that it “is monitoring the situation in Sudan and conducting prudent planning for various contingencies” – after a midweek ceasefire attempt failed to hold on.

    Image: AFP/Getty

    “As part of this, we are deploying additional capabilities nearby in the region for contingency purposes related to securing and potentially facilitating the departure of U.S. Embassy personnel from Sudan, if circumstances require it,” according to Pentagon spokesperson Lt. Col. Phil Ventura.

    Additionally, National Security Council spokesman John Kirby confirmed Thursday that the US knows the whereabouts of all diplomats still hunkered-down and that the State Department is trying to get “them all co-located together for their own safety.”

    According to Politico, the Pentagon is moving troops into place ahead of a potential evacuation:

    Wendy Sherman, the deputy secretary of State, privately told lawmakers Wednesday that troops would be moving to Djibouti, home to Camp Lemmonier, to provide the administration an option to launch an evacuation operation, according to one of the people familiar with the situation. The person, along with others POLITICO spoke to for this story, was granted anonymity to discuss sensitive military planning and internal deliberations. Sherman stressed that the mission would whisk only embassy staff to safety and that there won’t be a military-led general evacuation of American citizens, the lawmaker added.

    Streets in the city have been transformed into war zones, and the UN estimates at least 185 people have been killed and more than 1,800 wounded. The fighting broke out Saturday, and the battles pit the Sudanese Armed Forces (SAF) led by General Abdel Fattah al-Burhan against the Rapid Support Forces (RSF) of General Mohamed Hamdan Dagalo – who’s also known as Hemedti and has served as Burhan’s deputy head of state.

    What began as a peaceful protests and limited clashes over Sudan’s political future is now a war for control of Africa’s third-largest country. There remains significant dangers for Americans and foreign embassy staff, given it was only on Tuesday that US diplomatic convoy came under intense gunfire in the capital.

    The State Department called the attack, which included at least 100 rounds fired on the US embassy convoy according to international reports, a “reckless” and “irresponsible” attack and called on both sides of the raging conflict to uphold the safety and security of American diplomatic personnel. 

    All Americans and embassy staff were then ordered to shelter in place until help arrives, or calm returns. The Biden administration now is preparing for a worst case emergency evacuation scenario, given Sudan’s embattled government is not expected to help.

    Tyler Durden
    Thu, 04/20/2023 – 22:00

  • Tax Armageddon Day Is Coming
    Tax Armageddon Day Is Coming

    Authored by Jerry Rogers via RealClear Wire,

    Benjamin Franklin famously wrote in 1789 that “our new Constitution is now established and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” Death and taxes are fated. However, are enormous tax hikes also a fait accompli? Is it a certainty – ‘an accomplished fact’ – that the White House and Congress will repeal tax reforms that worked? Tax breaks that helped small business owners and families.    

    For the past several days Americans have been scrambling to make the deadline to complete their 2022 tax returns. Most taxpayers will be relieved once the ordeal is done. However, here’s an unfortunate reality: if Washington fails to act, the federal tax code is headed for major changes in just a couple of years, including massive tax hikes on families and small businesses.

    In December 2017, Congress passed, and Donald Trump signed an historic, comprehensive tax reform package.

    The Tax Cuts and Jobs Act slashed taxes for almost all Americans, substantially reduced corporate and small business taxes, and increased the standard deduction for individuals and couples.

    The reforms are set to expire – and certain provisions have already expired – in 2025. Unless the Congress moves to make the 2017 tax reforms permanent, Americans will suffer colossal tax increases crushing small businesses and family budgets. 

    The 2017 tax cuts delivered results for the American people, despite fierce opposition and false predictions of economic ruin. Opposition to the tax cut plan was intense. It was constant and well organized. At the time, many pundits – both on the right and left – predicted that the Republicans in Congress would cower and (former) President Trump would be forced to fold. It didn’t happen.

    The Job Creators Network (JCN) – a nonpartisan group founded by entrepreneurs – stood their post. Building coalitions, offering intellectual ammunition, and countering hysteria with facts, JCN informed the public discourse. In a public debate marked by false narratives and misinformation, JCN did something quaint – it told the truth and made its case based on the facts and evidence.    

    The JCN reminded Congress:

    Small business is the backbone of the economy with two-thirds of new jobs being created by small businesses. There are 29 million small businesses in America employing 56 million people — that’s 85 million Americans depending on the success of small business.”

    In 2017 in the midst of a political frenzy, the Job Creators Network advanced the economic science. JCN followed the evidence that tax reform would benefit all Americans and stimulate the economy. No easy task – remember the piercing opposition from Congressional Democrats and the media? We were bombarded with the worst demagoguery that Washington had to offer –  that the Tax Cuts and Jobs Act was designed to help the wealthiest few Americans, while leaving the rest of us stuck with the bill. It turns out – as the JCN argued – tax reform was a boon to the economy and a saving grace for America’s small businesses.

    Here’s what we know happened in the five years since the tax reforms took effect. Stephen Moore (an architect of the tax plan) recently wrote in the Washington Examiner:

    “We now have incontrovertible evidence that after five years since they took effect, the Trump tax rate cuts of 2017 raised revenues over this time period. The latest Congressional Budget Office report released earlier [in January] calculated that the federal government collected $4.9 trillion of federal revenue last year. This was up — ready for this? — almost $1.5 trillion since 2017, the year before the tax cuts became law. In other words, revenues were up 40% in five years. The evidence through the first three years of the tax cut finds that the share of taxes paid by the wealthiest 1% rose as well. So much for this being a tax giveaway for the rich.”

    Even with the Covid crisis and the pandemic lockdowns, the American economy experienced a ‘giant Laffer Curve’ effect from the 2017 tax cuts. In other words, Moore explains “we got higher growth and higher tax payments with lower tax rates.” The 2017 Tax Cuts and Jobs Act delivered good results for the American people.

    Moore’s work on the tax reform package is why the Job Creators Network awarded him with its Defender of Small Business Award.

    In 2018, JCN president and CEO Alfredo Ortiz called the Tax Cuts and Jobs Act “One of the greatest legislative achievements of the decade.” He went on to say that “Steve Moore was not only a major mover and shaker that made passage possible, but he was a strong partner alongside the Job Creators Network in ensuring that small businesses were among the beneficiaries of the legislation.”

    What was the economic outlook prior to the 2017 reforms?

    The labor force participation rate was in an alarming downward trend –  that is to say, the unemployed just stopped looking for work. Wage growth was stalled, and productivity growth was stuck at scarcely 1 percent. And new business investments in infrastructure had slowed to a meager 2.5 percent. America had entered  – what the political class told us was – a ‘New Normal’ of measly economic growth and wage stagnation. However, the Job Creators Network argued that easing the tax burden on small businesses (and all Americans) would allow them to expand, hire, and reinvigorate ‘Main Street’.

    What do we know today about the 2017 reforms? Another architect of the plan, Kevin A. Hassett, wrote in 2021 (four years into the tax reforms):

    “Data released over the past four years have met or even exceeded our predictions. In 2019 alone, real median household income in the U.S. rose by $4,400 — a bigger increase in one year than in the entire 16 years through the end of 2016 combined. From December 2017 through the end of 2019, real wages for the bottom 10 percent of the wage distribution rose 8.4 percent, while real wages for the top 10 percent rose 5.2 percent. Real wealth for the bottom 50 percent rose a staggering 28.4 percent, while that of the top 1 percent rose 8.9 percent.”

    Without Congressional action, the tax rates and reform tax structure (for 2026) will revert back to what Americans were subjected to before the Tax Cuts and Jobs Act took effect.

    Alfredo Ortiz said in a February oped:

    “Fortunately, the facts have finally caught up with the tax cuts’ detractors while supporters have been vindicated. A new report from the Congressional Budget Office (CBO) proves that, on top of the tax cuts contributing to one of the strongest economies in half a century pre-pandemic, the package didn’t compromise the federal budget.

    Recently in RealClearPolicy Ortiz wrote, the only way out of our current economic difficulties “is to empower small businesses through pro-growth policies like those in Job Creators Network’s American Small Business Prosperity Plan.” The first plank of the JCN’s plan is to make the Tax Cuts and Jobs Act permanent:

    “The 2017 Tax Cuts and Jobs Act unleashed a tsunami of small business expansion—leading to one of the strongest economies in half a century. But now, the legislation is set to incrementally expire and effectively hike taxes on America’s small business community. Congress should make small business tax relief permanent.”

    The Job Creators Network was right in 2017. The JCN was the bulwark that forced Congress to stay the course. Even as taxpayers have rushed to submit their returns and beat the IRS’s tax deadline, another deadline looms in our near future.

    Without legislative action, the tax cuts are set to expire at the end of 2025 and by 2026 tax rates and tax brackets will be higher for most households and small businesses.

    This year everyone (who pays taxes) knows that Tuesday April 18, 2023 is Tax Day. What we need to know is that December 31, 2025, will be a devastating day for most taxpayers – Tax Armageddon Day.

    As Franklin warned, “nothing can be said to be certain, except death and taxes.”

    However, December 31, 2025 doesn’t have to be a fait accompli, not if Congress acts and the American people go to the polls in 2024 knowing that tax hikes are coming in 2026.

    Massive tax hikes don’t have to be a certainty. You get to decide. 

    Tyler Durden
    Thu, 04/20/2023 – 21:40

  • CDC Director Admits Vaccines Do Not Prevent COVID Transmission, Blames "Evolution Of Science"
    CDC Director Admits Vaccines Do Not Prevent COVID Transmission, Blames “Evolution Of Science”

    CDC Director Rochelle Walensky admitted during Congressional inquiry that existing covid mRNA vaccinations do not prevent the transmission of the current virus subvariants.  However, using typical establishment spin, Walensky also suggested that the vaccines did prevent transmission of the original variants despite the fact that there was no concrete data to support this notion.

    https://platform.twitter.com/widgets.js

    Her explanation for the confusion?  It was “evolution of science” and the virus that changed the conditions, rather than the CDC being wrong (or lying) about the science and the conditions. 

    In the video below, Pfizer executive Janine Small is cornered by a member of the European Parliament and openly admits that the company’s covid vaccines were never tested for blocking transmission.  This was after Pfizer had consistently claimed the vaccine prevented the spread of the virus.  Media damage control argued that even though the mRNA products were not tested for transmission prevention by Pfizer, they are still considered useful for disrupting spread.  Data so far suggests that this was a lie:

    In 2021, data from the Public Health England and the NHS shows that the vaccinated and unvaccinated had almost identical rates of infectiousness. In other words, a vaccinated person was almost as likely to give you covid as an unvaccinated person.

    In the case of the original “wild virus” variant from 2020 to 2021, infections and fatality rates actually plummeted well before the vaccines were widely introduced.  This means that natural immunity was the most likely factor in the slowdown of the spread.  Transmission was stopped by the human immune system, not the vaccines.

    During the same congressional hearing, Walensky asserted that the CDC will continue to recommend masks in schools in communities where COVID-19 levels are high, despite the fact that multiple studies show zero positive results for masks in stopping covid.  The CDC continues to ignore these studies in favor of pro-masking policies.

    There is a logic behind the CDC’s otherwise bizarre behavior – They have to persist in dismissing the science because their original policies were not based in science, they were based in ideology and malicious intent.  The purpose of government pandemic mandates was control, not public safety.  Officials saw an opportunity to use covid fear as leverage to steal individual rights while promoting a fake sense of security.  And, the strategy almost worked, too.

    If it had not been for the incredibly low official Infection Fatality Rate (IFR) of the virus (only 0.23%), if covid had been just slightly more deadly and if conservative states did not have the courage to block Joe Biden’s vaccine passport efforts, then America and much of the western world would look very different today.  Just take a look at the draconian laws many Democrats wanted to put in place to punish those who would not submit to the vaccines.  

    The ongoing insistence of organizations like the CDC in promoting false covid information is proof that oppressive mandates and lockdowns would still be an issue in 2023 if elements of the public had not stood their ground.  We dodged a bullet, but just barely.     

    Tyler Durden
    Thu, 04/20/2023 – 21:20

  • US 'National Divorce' Appears To Already Be Happening
    US ‘National Divorce’ Appears To Already Be Happening

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    The so-called “national divorce” that was promoted earlier this year by some Republicans appears to be occurring organically, according to a new analysis of U.S. population trends.

    A U-Haul moving van on Elm Street in Montpelier, Vt., on Aug. 12, 2017. (Artaxerxes via Wikimedia Commons/CC BY-SA 4.0)

    Since 2020, some 2.6 million people have moved out of U.S. counties that were won by President Joe Biden and into those that former President Donald Trump prevailed in, the analysis found. It cited recent Census Bureau data.

    More than 61 percent of the counties that voted for Biden in 2020 lost population, while 65 percent of Trump-supporting counties gained population,” the Issues and Insights analysis said. The data showed that some 2,562,937 people moved from Democrat-leaning counties to Republican-leaning counties since Biden was elected in the divisive November 2020 election.

    The two counties that lost the most population from net internal migration were Los Angeles County and Cook County, Illinois, which both overwhelmingly voted in favor of Biden. Cook, which includes Chicago, was down about 200,718, while Los Angeles lost about 363,000 people since the election.

    California, which has a Democrat governor and legislature, experienced “a massive net outflow” of people—871,127—in the past two years. New Jersey, which has a Democrat-controlled legislature and a Democrat governor, lost 107,000 people in the same time period, although the analysis noted that red counties in the Garden State gained 22,507.

    “While many of the blue counties that lost population were urbanized,” it said, “the exodus was widespread and nationwide, including many far more sparsely populated liberal areas.”

    Rep. Marjorie Taylor Greene (R-Ga.) speaks outside Manhattan Criminal Courthouse on the day of former President Donald Trump’s planned court appearance on April 4, 2023. (Reuters/Caitlin Ochs)

    Meanwhile, the largest loss suffered by any red county or equivalent was Jefferson Parish, Louisiana, which was down by 18,470, the analysis found.

    “On the other hand, blue counties lost population in states that saw overall gains,” the analysis noted. “For example, Florida had a net gain of 622,476 over the past two years. But counties that backed Biden nevertheless lost 3,374. Georgia had a large gain of 128,089, but blue counties still had a net loss of 28,178. Tennessee saw an increase of 146,403 people, but counties that voted for Biden saw a decline of 37,306.”

    Earlier Calls

    Earlier this year, Rep. Marjorie Taylor Greene (R-Ga.) posted on social media about the prospects of a “national divorce” occurring within the country, noting that the differences between Republican and Democratic voters are simply too great on a range of issues.

    “We need a national divorce. We need to separate by red states and blue states and shrink the federal government,” Greene wrote in February during Presidents’ Day. “Everyone I talk to says this. From the sick and disgusting woke culture issues shoved down our throats to the Democrat’s traitorous America Last policies, we are done.”

    Tyler Durden
    Thu, 04/20/2023 – 21:00

  • Millennials Are Slowest Generation To Hit 50% Homeownership; Rest Of Generation Fears Forever Renters
    Millennials Are Slowest Generation To Hit 50% Homeownership; Rest Of Generation Fears Forever Renters

    The millennial generation has finally reached a critical milestone of more than half owning their homes, according to a new report by the real estate site Apartment List, citing the latest data from the Census Bureau. Compared with other generations, millennials have reached the 50% mark slower than previous generations. 

    “For a generation whose identity has been shaped by a tumultuous relationship with the housing market, homeownership has been a lofty goal, growing exceedingly expensive and competitive compared to when their parents were coming of age,” Apartment List said. The current millennial homeownership rate is 51.5%, while all other generations are between 69% and 78%. 

    At the age of 30, 42% of millennials owned their homes, while Gen X had 48%, baby boomers had 51%, and silents had nearly 60%. This gap persists for even the oldest millennials in their early 40s. 

    Apartment List explained some of the reasons why millennial homeownership was suppressed in the last decade. 

    A handful of economic and cultural factors explain these generational gaps. The most significant was the Great Recession, which suppressed homeownership across all generations but was particularly damaging to millennials, whose early career trajectories were shaped by a historically unstable economy. During the economic recovery that followed, many millennials were drawn to centrally-located jobs in cities where starter homes became increasingly scarce and expensive. While many millennials purchased homes during these years, others spent more time living at home or in rentals, delaying major life events like homeownership, marriage, and childbearing when compared to earlier generations.

    During Covid, millennials were panic buying homes with ultra-low mortgage rates. 

    In 2020, the COVID-19 pandemic drove an even deeper wedge between millennial homeowners and millennial renters. On the one hand, millennials purchased an outsized share of homes during the first two years of the pandemic, when mortgage rates fell below 3 percent. On the other hand, housing inventory dropped to all-time lows and for-sale prices skyrocketed more than 40 percent. For millennial renters who could not afford to buy a home in the earliest stages of the pandemic, homeownership opportunities waned dramatically in the years that followed. Mortgage rates spiked, bringing modest relief to list prices but pushing monthly ownership costs even higher.

    We are surprised millennials have even reached the 50% mark. Perhaps their baby boomer parents have cosigned their mortgages or gifted them down payments as this heavily indebted generation struggles. 

    As for the other half of millennials, an increasing number are giving up on homeownership due to the housing affordability crisis

    Affordability continues to be the main factor of more and more millennials believing that they will be forever renters. 

    Not surprising at all.

    Apartment List concludes by saying homeownership challenges might be even worse for the next generation, Z. 

    Currently, ages 25 and younger, the majority of gen Z renters have never known a healthy housing market, and in our renter survey already 20 percent describe themselves as “forever renters.”

    Homeownership will be a Luxury… 

    Tyler Durden
    Thu, 04/20/2023 – 20:40

  • Bringing Dead US Uranium Enrichment Industry Back To Life Will Be 'A Heavy Lift' But Needed: Industry Leader
    Bringing Dead US Uranium Enrichment Industry Back To Life Will Be ‘A Heavy Lift’ But Needed: Industry Leader

    Authored by Jon Haughey via The Epoch Times (emphasis ours),

    Uranium mining in the United States hasn’t been profitable since the Russians flooded the global market with predatorily priced ore and processed fuel a decade ago.

    The Diablo Canyon Nuclear Power Plant, in Avila Beach, Calif., is among the nation’s 55 operating nuclear power plants. (Joe Johnston/The Tribune (of San Luis Obispo) via AP)

    Long before, the nation’s atrophied uranium enrichment industry, episodically idled by market paralyses and perpetually frozen in costly multi-jurisdictional regulatory entanglements, had ossified into obsolesce.

    In 1980, the United States produced and processed 90 percent of the uranium used by 251 nuclear power plants that generated 11 percent of the country’s electricity.

    In 2021, only 5 percent of the uranium used by the 55 nuclear power plants operating in the United States—which now generate 20 percent of the nation’s electricity—was produced domestically.

    After years of Russian market manipulation stymied profitable domestic production, Congress has responded since 2020 with a series of bills that could, if approved, collectively spend up to $5 billion by 2035 in an attempt to seed a domestic commercial uranium market back to life.

    Despite slow-rolling allocations and delays in launching programs, which some attribute to resistance within the Biden administration to nuclear power, mines across five states—mostly in Texas and Wyoming currently permitted to excavate uranium—will soon begin doing so.

    Others elsewhere are also expected to participate in the U.S. Department of Energy (DOE) uranium consortium and subsidized market incubator.

    Texas has the most uranium mining operations, but Wyoming has the most uranium, Wyoming Mining Association Executive (WMA) Director Travis Deti said.

    “For all purposes,” he declared, “the state of Wyoming is the American uranium industry.”

    There are four permitted uranium mines in the Cowboy State and at least three other prospective operations in regulatory review, Deti told The Epoch Times.

    They’re ready to start digging this spring. “We can mine all the uranium we need in the U.S. right here in Wyoming,” he said.

    Taillights trace the path of a motor vehicle at the Naughton Power Plant in Kemmerer, Wyo., where Bill Gates’ company, TerraPower, will build a sodium-cooled nuclear reactor in the former coal-fired power plant. (AP Photo/Natalie Behring, File)

    US Enrichment Capacity: One Mine

    But unfortunately, there’s nowhere in the United States for Wyoming mines to send ore for enrichment. Nationwide, only one plant in New Mexico has the capacity to enrich uranium for use in commercial nuclear reactors.

    Even if we were mining it now, we’re shipping it somewhere else [overseas] to get it enriched and refined,” Deti said. “When it comes to conversion and enrichment, we have no capacity to do that” in the United States.

    Deti told The Epoch Times he has a solution for private industry: build enrichment plants in Wyoming near the mines, where there is a knowledgeable workforce and “friendly” state regulatory policies geared to spearhead the mine-to-market uranium recovery.

    Deti also offers a solution for the Biden administration: to decarbonize energy and ensure a secure domestic energy supply, stop “paying lip service” to nuclear power as pivotal and de-zombify the nation’s uranium production industry by accelerating and streamlining permitting for ore excavation and processing.

    “Right now, Russia has a hold on conversion,” or processing uranium for commercial use, he said. Russia produces more than 50 percent of fuel used for nuclear power across the world and nearly a quarter used in the United States.

    Getting everybody to recognize the problem” is a significant achievement, Deti said. But he’s concerned addressing the supply-chain gap won’t get the funding and regulatory relief it needs from the Biden administration, despite mounting bipartisan Congressional support for accelerating long-term remedies.

    “I’m skeptical but hopeful,” he said. “We’re starting to turn in the right direction. It is possible that we can do it, but it is a heavy lift.”

    Read more here…

    Tyler Durden
    Thu, 04/20/2023 – 20:20

  • De-Dollarization: Countries Seeking Alternatives To The US Dollar
    De-Dollarization: Countries Seeking Alternatives To The US Dollar

    The U.S. dollar has dominated global trade and capital flows over many decades.

    However, as Visual Capitalist’s Bruo Venditti details below, many nations are looking for alternatives to the greenback to reduce their dependence on the United States.

    This graphic catalogs the rise of the U.S. dollar as the dominant international reserve currency, and the recent efforts by various nations to de-dollarize and reduce their dependence on the U.S. financial system.

    The Dollar Dominance

    The United States became, almost overnight, the leading financial power after World War I. The country entered the war only in 1917 and emerged far stronger than its European counterparts.

    As a result, the dollar began to displace the pound sterling as the international reserve currency and the U.S. also became a significant recipient of wartime gold inflows.

    The dollar then gained a greater role in 1944, when 44 countries signed the Bretton Woods Agreement, creating a collective international currency exchange regime pegged to the U.S. dollar which was, in turn, pegged to the price of gold.

    By the late 1960s, European and Japanese exports became more competitive with U.S. exports. There was a large supply of dollars around the world, making it difficult to back dollars with gold. President Nixon ceased the direct convertibility of U.S. dollars to gold in 1971. This ended both the gold standard and the limit on the amount of currency that could be printed.

    Although it has remained the international reserve currency, the U.S. dollar has increasingly lost its purchasing power since then.

    Russia and China’s Steps Towards De-Dollarization

    Concerned about America’s dominance over the global financial system and the country’s ability to ‘weaponize’ it, other nations have been testing alternatives to reduce the dollar’s hegemony.

    As the United States and other Western nations imposed economic sanctions against Russia in response to its invasion of Ukraine, Moscow and the Chinese government have been teaming up to reduce reliance on the dollar and to establish cooperation between their financial systems.

    Since the invasion in 2022, the ruble-yuan trade has increased eighty-fold. Russia and Iran are also working together to launch a cryptocurrency backed by gold, according to Russian news agency Vedmosti.

    In addition, central banks (especially Russia’s and China’s) have bought gold at the fastest pace since 1967 as countries move to diversify their reserves away from the dollar.

    How Other Countries are Reducing Dollar Dependence

    De-dollarization it’s a theme in other parts of the world:

    • In recent months, Brazil and Argentina have discussed the creation of a common currency for the two largest economies in South America.

    • In a conference in Singapore in January, multiple former Southeast Asian officials spoke about de-dollarization efforts underway.

    • The UAE and India are in talks to use rupees to trade non-oil commodities in a shift away from the dollar, according to Reuters.

    • For the first time in 48 years, Saudi Arabia said that the oil-rich nation is open to trading in currencies besides the U.S. dollar.

    Despite these movements, few expect to see the end of the dollar’s global sovereign status anytime soon. Currently, central banks still hold about 60% of their foreign exchange reserves in dollars.

    Tyler Durden
    Thu, 04/20/2023 – 20:00

  • Doug Casey On Rising Crime, Legalized Shoplifting, And Other Disturbing Trends In US Cities
    Doug Casey On Rising Crime, Legalized Shoplifting, And Other Disturbing Trends In US Cities

    Authored by Doug Casey via InternationalMan.com,

    International Man: In parts of California and other states, shoplifting under $950 has been de-facto decriminalized.

    The practical reality is that thieves can now walk into a store and steal whatever they can without fear of police intervening—as long as it’s under $950.

    The trend of de-facto legalization of shoplifting is spreading across the country.

    What is your take?

    Doug Casey: The rise in crime in general and the veritable legalization of shoplifting, in particular, are really just symptoms.

    The real problem is that the moral fabric of the US and many other Western countries are torn. There’s not much of a moral compass left. It’s no longer clear to the average American what is right and what is wrong. Right and wrong is now viewed as arbitrary social constructs. Property rights are barely even seen as rights, which is perverse since the very concept of rights is based on property—starting with your own body, which is the most basic form of property.

    This degeneration is understandable in a world where black is white and wrong is right. It’s become unclear in many people’s minds what a man is, what a woman is, and what the difference is. If there’s no recognition of something as basic and obvious as that, the meaning of words, and any logic in thought, becomes meaningless. So, of course, they have trouble understanding concepts like right and wrong. But it goes beyond that.

    For instance, many people think that reparations are due to black people simply because they’re black, and many blacks were slaves over 160 years ago. Incidentally, I don’t capitalize that word, something which has become a widespread affectation. It only serves to draw attention to race, which is part of the problem.

    Let’s pursue the absurd matter of racial reparations for a moment since some miscreants have said all blacks in California are due $5 million. But are reparations due to American blacks, by any stretch of fact or logic? The average income of blacks in the US is many, many times that of blacks who are still in Africa. Should blacks in the US, therefore, pay whites something out of gratitude? The answer, just in case anybody is wondering: Of course not.

    When people think they’re due reparations, the next step is for them to think—or rather feel, since there’s no logical thought involved—that they have a moral right to steal to take the reparations they imagine they’re owed. Does that have any relation to the fact that, although blacks are only 13% of the population, they commit 50% of the crime?

    Anyway, the nonobservance of shoplifting laws is just one more symptom of a corrupt culture and a collapsing civilization.

    International Man: Videos of “smash and grab” robberies—where large groups rush into a large store like Walmart or a very expensive one like Louis Vuitton and grab as much merchandise as they can carry—are circulating online.

    In places like Portland, Walmart has decided to permanently close all of its stores because of the rise in theft.

    For similar reasons, Target has closed stores in downtown Chicago, Minneapolis, and Washington, DC.

    How is rising crime affecting businesses, and what are the implications?

    Doug Casey: From a criminal’s point of view, in the kind of societal environment we’re in right now, flash mobs make a lot of sense.

    If you call together your posse to raid a store, and a hundred people overwhelm it to steal all they can, there’s nothing the employees can do about it. In fact, there’s likely nothing that the police can do about it, if only because it happens so quickly.

    It’s a clever tactic. But this type of thing happens not because they’re poor, black, or there aren’t enough police but because people no longer have a sense of right or wrong. The police are loath to stop them for fear of being called racists.

    Increasingly, business itself makes no sense, with the amount of taxes and regulations an entrepreneur has to deal with added to the lack of defense from common criminals.

    I expect this trend to continue. If it does, not just ghettos but central business districts will be devoid of retail stores. Many large office buildings will be empty. Others will opt to become self-contained fortresses.

    International Man: Many cities which have decided to “defund the police” have seen a surge in violent crime generally and carjackings, armed robbery, and murder.

    What do you make of the trend of rising crime?

    Doug Casey: Once again, it’s an indicator of the general degradation of civilization itself.

    If you’re wondering where the US is going, you can look at Venezuela, where the standard of living has collapsed since being totally taken over by socialist values in the last 20 years. And Argentina, which has been on a shallower glide path for the last 80 years. Latins seem to have learned absolutely nothing, however, since every country in South America, with the exception of Uruguay, is run by a doctrinaire socialist.

    Look at South Africa, which is still the most advanced country on the continent. Americans rarely hear about it, but power is only available half the day. The blacks have practically declared open season on whites in parts of the country. That’s the direction we’re going in the US.

    All over the West, criminals and welfare recipients are rewarded while producers are punished. China has some huge problems, but this is one area where they’re doing much better than the rest of the world.

    Common criminality is not tolerated in China—or anywhere in the Orient. Welfare barely exists. That’s one reason why China has risen relative to the US in recent years. The social and moral underpinnings of China are shockingly better than they are in the “woke” US. In fact, the US seems to be undergoing its own version of the Great Cultural Revolution that nearly destroyed China in the 60’s.

    International Man: Amid rising crime, the police are failing miserably to protect life and property.

    Could the free market provide these services better than the government? How would that work?

    Doug CaseyFirst of all, it’s essential to turn around the moral climate. That’s possible, but a whole different question.

    From a shorter term practical viewpoint, the police, the courts, and the prisons should all be privatized. Rather than being State employees enforcing arbitrary and often ridiculous laws, the US should revert to its founding principles.

    I’ve explained how this shocking proposal would work in much more detail elsewhere.

    Private police would be compensated based on their effectiveness. More like Mike Hammer or Mannix than the praetorian operative who puts away the tools at the end of a shift. Arbitration agencies whose profitability would depend on the speed, fairness, and low cost of their decisions would be a huge improvement over today’s highly political courts. Sentences would be assessed as dollar amounts to compensate victims, not costly sentences of incarceration. The first order of business should be to make the victim whole, not punish the perpetrator.

    If somebody steals a thousand dollars, the criminal must first pay back the victim—which rarely happens today—plus the costs of his capture and the arbitration costs. This takes the profit out of crime.

    If a person is murdered, a value assigned to his life would be paid to his estate. If the perpetrator is unable or unwilling to pay, his body parts should be sold.

    There’s much more to be said on the subject, examining solutions that haven’t crossed many minds.

    International Man: US cities are degenerating into expensive, unsafe, crime-ridden dumps that rival—or are even worse than—their Third World counterparts.

    Yet, the public continues to elect politicians that enact the policies that create these conditions in the first place.

    What do you make of this trend? Is there any hope? What can the average person do?

    Doug Casey: The real problem started with the government’s involvement in the economy. It started small, then took a quantum leap with the creation of the income tax and the Fed in 1913, which allowed it to finance WW1 starting in 1917. The process is now completely out of control.

    Notwithstanding what I just said about the police, the courts, and the prisons, the only involvement government should have in society is to protect people from force, which means that those things, plus a purely defensive military, are the only things government should be involved in. Perversely, these things are too important for the functioning of a civil society to allow the State a monopoly.

    What the State mostly does today is interfere in the economy and enrich the politically well-connected. It does not reliably protect the average person from crime and violence.

    At the founding of this country, the State represented only a tiny proportion of the economy. Now it’s 50%, and people expect its involvement everywhere. People have come to treat it as a cornucopia, not the dangerous predator it is.

    Welfare is available everywhere, from corporations to individuals. Food, shelter, medical care, education, and even jobs are expected to be the province of the government. These things should have nothing to do with the government.

    All the news that we hear about every day is what the government’s doing. We should be a lot more like Switzerland. Nobody knows, and nobody cares who the president of Switzerland is, which is one reason why Switzerland is a stable and prosperous country, and the US is becoming less that way daily.

    The bottom line is that we can expect crime to continue rising. And the State is now more the cause than the cure of the problem.

    *  *  *

    It’s clear there are some ominous social, political, cultural, and economic trends playing out right now. Many of which seem to point to an unfortunate decline of the West. That’s precisely why legendary speculator Doug Casey and his team just released this free report, which shows you exactly what’s happening and what you can do about it. Click here to download it now.

    Tyler Durden
    Thu, 04/20/2023 – 19:40

  • Email Reveals Woke "Day Of Dialogue" At Elite Private School In Baltimore
    Email Reveals Woke “Day Of Dialogue” At Elite Private School In Baltimore

    An elite K-12 private school in Baltimore, Maryland, has adopted a radical “Day of Dialogue” where teachers will devote part of their class “to share a connection between the LGBTQ community and their particular subject,” according to an email sent to parents. 

    Gilman School, an all-boys private school, is ranked among the top 100 K-12 schools in the US and is recognized as one of the leading schools in Maryland. Parents spend more than $35,000 per year to have their children educated were shocked on Wednesday when Armond T. Lawson, head of the middle school, sent this email about the upcoming “Day of Dialogue”: 

    Dear Gilman Middle School Families,

    I am writing to inform you that Friday, April 21, the Middle School will conduct its first Day of Dialogue. Throughout the day, space will be created to learn about LGBTQ connections in our curriculum. Each teacher is prepared to devote 5-10 minutes of class time to share a connection between the LGBTQ community and their particular subject area. Examples include discussions related to the role gender plays in learning a new language, sharing information about the impact of LGBTQ figures in various disciplines, and informing students of some of the societal challenges encountered by LGBTQ people.

    Day of Dialogue in the Middle School was inspired by a similar initiative in the Upper School. Week of Dialogue – conceived of in 2018 at Gilman by two students – was created in response to the Day of Silence, which is a nationally honored day where LGBTQ students and allies take a vow of silence to protest the harmful effects of harassment and discrimination of LGBTQ people in schools. Previous presidents of Gilman’s Gender and Sexuality Alliance (GSA), Grey Johnson ’18 and Ben Levinson ’18 decided that instead of staying silent, Gilman should facilitate an open and educational conversation about LGBTQ topics within our community.

    We know this will be an enriching experience for our students and help to promote an increased understanding of and appreciation for all of the people in our school community and the world around us. Please feel free to reach out if you have any additional questions.

    The woke administration and teachers at Gilman seem oblivious to the fact that the parents ultimately fund their salaries. We obtained the email from one parent who requested anonymity and wanted to sound the alarm on the direction of education. A former student told us, “Why can’t the school just teach critical subjects instead of all this confusing gender nonsense.” 

    Another elite private school in Baltimore called Oldfields School is shutting its doors after 150 years. Even though the school has had financial issues for more than a decade, the school went super woke. 

    … and you guessed it. Now broke. 

    Nationwide, parents are yanking their kids from left-wing public schools at an increasing rate. At elite private schools, it’s a very dangerous game for administration and teachers to push unpopular, confusing woke curricula to young children because parents can easily cause a run on the school by withdrawing their kids and sparking a cash crunch. 

    Tyler Durden
    Thu, 04/20/2023 – 19:20

  • ICE Deputy Director Proposes 'Virtual' Arrests As Immigration Backlog Balloons
    ICE Deputy Director Proposes ‘Virtual’ Arrests As Immigration Backlog Balloons

    Authored by Joseph Lord via The Epoch Times (emphasis ours),

    An exterior view of U.S. Immigration and Customs Enforcement (ICE) agency headquarters is seen July 6, 2018 in Washington. ( Alex Wong/Getty Images)

    U.S. Immigration and Customs Enforcement (ICE) is considering “virtual” arrests to address a growing backlog of unprocessed illegal immigrants.

    Deputy Director of ICE Tae Johnson told the House Appropriations Committee on April 18 that his agency has been overloaded with work due to the unprecedented influx of illegal immigrants along the U.S. border with Mexico over the past two years.

    One result of this has been that many illegal aliens captured by ICE and Border Patrol have been released into the interior without legal papers ordering them to appear in court.

    It’s standard procedure to issue “Notices to Appear” (NTAs) to illegal aliens being released from flooded ICE detention facilities along the border. NTAs constitute the first step in beginning the legal deportation process.

    But ICE and Border Patrol have been so inundated by illegal aliens that many have been released without being issued an NTA.

    Tae Johnson, acting director of Immigration and Customs Enforcement, at a press conference in Washington, on Oct. 26, 2021. (Roberto Schmidt/AFP via Getty Images)

    Johnson asked Congress to authorize ICE to make “virtual” arrests by issuing NTAs online in order to begin the process of deporting the millions of illegal aliens currently in the country.

    Backlogs Until 2033

    Johnson made the request during an exchange with Ranking Member Henry Cuellar (D-Texas), one of the most conservative Democrats in the House.

    During the exchange, Cuellar expressed “concerns” about the immigration backlog built up in some American cities. In New York City and San Antonio, it is projected to take until 2033 for illegal immigrants to even appear before ICE. After that, it can take another two to three years before they get a day in court.

    It’s a little concerning that some of them have to wait until 2033 just to appear before you, then they get another 2-3 years before they even go to an immigration judge,” Cuellar said. 

    Read more here…

    Tyler Durden
    Thu, 04/20/2023 – 19:00

  • Illinois Lawmaker Calls Weekend Chaos A 'Mass Protest'
    Illinois Lawmaker Calls Weekend Chaos A ‘Mass Protest’

    After a flash mob of more than 500 youths trashed downtown Chicago last weekend, smashing and setting fire to cars, terrorizing tourists, smashing windows and fighting in a riot that left two teenage boys hospitalized with gunshot wounds (albeit a common occurrence), one Democratic leader is making excuses.

    Via the Daily Mail

    https://platform.twitter.com/widgets.js

    “Since I’m a glutton for punishment and I’m sure I’m gonna get the most unhinged, crime weirdo replies but: I would look at the behavior of young people as a political act and statement,” said state Senator Robert Peters.

    https://platform.twitter.com/widgets.js

    In total, just 15 people were arrested.

    Others expressed concern, carefully – so as not to offend anyone.

    “We’ve had more than our share of downtown mass arrest incidents going back over a decade. This is not new,” said 2nd Ward Alderman Brian Hopkins, PJ Media reports. “What is new is to have it happen three days in a row.”

    “There should be all sorts of contingency plans in place for when these incidents occur,” Hopkins continued. “Instead, we had an absolute meltdown of command and control. Nobody knew who was in charge.”

    According to Hopkins, interim police SUpt. Eric Carter and Chief of Patrol Brian McDermott got into a shouting match Saturday night, and a disagreement ensued between “Chicago police leadership and CTA management about who was in charge.”

    Chicago Sun-Times:

    On Monday afternoon, the police department issued a statement saying more security measures would be in place going forward, such as checking bags at beach entry points. The curfew for Millennium Park will also be in place.

    Police officials are working closely with youth and outreach workers for when the gatherings occur, according to the statement. Parents were encouraged to accompany their kids or have them remain under adult supervision.

    It’s unclear why the police department was caught off guard, as it closely tracks social media for postings about these types of events.

    More via PJ Media’s Rick Moran;

    Maybe because no cop wants to end up in a viral video protecting himself or trying to restore order. The first order of business in any riot today is not to disrupt the destruction of the city. Laying hands on a rioter is a sure path to lawsuits and court appearances.

    In case you were wondering, the kids are planning another outing this coming weekend.

    The kids who are going to show up at these riots know that no one will touch them. No one wants to touch them because no one wants to deal with what they represent: the failure of city leaders to accept the responsibility to maintain a civil society.

    What’s truly amazing is that you could draw a direct line from the 2020 George Floyd protests to last weekend’s mayhem and not deviate an inch. Actions have consequences and inaction also has consequences. These are the consequences of inaction and what’s truly scary is that when authorities try to regain control and establish order, people are going to die.

    That’s the price Chicago is going to pay for stupidity and political gamesmanship.

     

    https://platform.twitter.com/widgets.jshttps://platform.twitter.com/widgets.js

    Tyler Durden
    Thu, 04/20/2023 – 18:40

  • The Woke Revolution Is Erasing The Past
    The Woke Revolution Is Erasing The Past

    Authored by J. Peder Zane via RealClear Wire,

    Students of English and history are going the way of the dodo bird.

    During just the last decade, their numbers at colleges and universities have dropped by a third – and humanities enrollment is down by 17%, Nathan Heller reports in his recent New Yorker article, “The End of the English Major.”

    Data collected by the American Academy of Arts and Sciences’ Humanities Indicators project show that “from 2012 to 2020 the number of graduated humanities majors at Ohio State’s main campus fell by forty-six per cent. Tufts lost nearly fifty per cent of its humanities majors, and Boston University lost forty-two. Notre Dame ended up with half as many as it started with, while SUNY-Albany lost almost three-quarters. Vassar and Bates â?? standard-bearing liberal-arts colleges â?? saw their numbers of humanities majors fall by nearly half.”

    Conservatives who have long lamented the politicization of the humanities, highlighted by the rise of women’s studies, queer studies, ethnic studies as well as the transformation of English and history into tools for the left’s vision of social justice, might be tempted to cheer this development. They might also applaud a main driver Heller and others cite for this trend: the determination of students spooked by the 2008 economic meltdown to choose majors that can help them land decent paying jobs. Reading “Middlemarch” may be uplifting but a marketing degree pays dividends.

    Unfortunately, something nefarious may be going on. It’s hard to believe that schools run by leftwing professors and administrators aggressively intent on telling students what they should think are passively responding to market forces. It is also not farfetched to suspect that they might be allowing the humanities to wither because it is a roadblock to the woke revolution they are advancing.

    English and history have always had an inherent conservative streak: They are, almost by definition, backward-looking disciplines. They have sought to conserve and thereby connect students with what the Victorian writer Matthew Arnold called “the best that has been thought and known.” Studying the history of ancient Greece and Rome and the art of the Renaissance, reading Shakespeare, Tolstoy, Austen, Ellison, and, of course, the Bible, show us how our ancestors’ decisions shaped our world while providing wisdom as we confront the great question: How can I lead a good life?

    At bottom, it is a recognition that history is ever the story, as Faulkner put it, “of the human heart in conflict with itself,” and that as we search for answers to eternal questions we can find solace by turning to the giants upon whose shoulders we stand.

    This mindset is problematic for the woke revolution. It holds that there is no abiding human nature or human condition; people are blank slates upon which society stamps ideas, like pieces of factory tin. It does not see us as biological creatures with innate instincts and concerns but a collection of social constructs that can be changed like hats. Utopia is possible if everyone can be made to wear the correct ideas. This forward-looking ideology has little use for the past; it was no accident that a seminal model for our woke movement, the French Revolution, abolished our Gregorian calendar and imposed its own, declaring September 1792 to be the start of Year One.

    Amnesia is the crucial psychological state for the woke revolution. In order to control thought, language, and reality itself, the left must strip people of the ability to evaluate the future plans it is peddling through reference to past experience. Those who do not remember what happened last week, last year, or a century ago are much easier to manipulate.

    Hence the longstanding effort to delegitimize the past by portraying it as a parade of horribles: History is the story of shocking cruelty; classic books are instruments to oppress marginalized groups.

    If you have never even been exposed to the idea that capitalism is the most liberating force in human history, the prime vehicle through which common people were able to gain wealth and power and replace authoritarian aristocracies with democratic forms of governance, then it is easy to be convinced it is simply a “tool of oppression.”

    If you do not know that the American revolution was fought for human freedom, then you might accept the risible claim of the New York Times’ 1619 Project, that its goal was the preservation of slavery.

    If literature and history are just cautionary tales of humanity’s wretchedness, if they are not sources of truth and beauty, but expressions of power and will, then why bother studying them?

    Let’s not forget that the economic meltdown was not the only thing that happened in 2008, when students started fleeing the humanities. That was also when the woke revolution began emerging as a transformational force through the election of Barack Obama. It was around then that support for humanities from nonprofits and the government started drying up.

    Circling the date 2007 on a piece of paper, James Shapiro, the renowned Shakespeare scholar at Columbia University, told the New Yorker’s Heller it was then that “funding goes down. The financial support for the humanities is gone on a national level, on a state level, at the university level.” A 2022 survey, for example, found that only 7% of Harvard freshmen planned to major in the humanities, down from 20% a decade earlier.

    History does not provide many bright lines. It is far easier to identify correlation than causation in its movements. But as we consider the plummeting interest in the study of English and history, we should note how helpful this is to the forces of the left, who control our college and universities. The less we know about the past, the more they can shape the future.

    J. Peder Zane is a RealClearInvestigations editor and columnist. He previously worked as a book review editor and book columnist for the News & Observer (Raleigh), where his writing won several national honors. Zane has also worked at the New York Times and taught writing at Duke University and Saint Augustine’s University.

    Tyler Durden
    Thu, 04/20/2023 – 18:20

  • 50 Million Americans Under Severe Weather Threat Into Weekend
    50 Million Americans Under Severe Weather Threat Into Weekend

    Tens of millions of Americans are at risk of severe thunderstorms for the next several days. Accuweather forecasters say residents in the central Plains and the Gulf Coast to the Appalachians and mid-Atlantic could experience wicked weather, including heavy rains, high winds, hail, flooding, and even isolated tornados. 

    On Wednesday evening, severe storms erupted across the Plains. Multiple tornados were reported, with the worst damage across the southern part of the Oklahoma City metro area. At least two deaths were confirmed.

    https://platform.twitter.com/widgets.js

    Accuweather meteorologists expect severe storms from northeastern Texas to southern Wisconsin today, including in Chicago, St. Louis, and Little Rock, Arkansas metro areas. They noted more intense storms are expected from southern Missouri to central Texas. The timing of thunderstorms will be later this evening. 

    Flash flood threats are posted through Friday for eastern Texas and Louisiana to western Kentucky and southern Indiana. 

    Another storm emerges Friday and is expected traverse parts of the Gulf Coast to portions of the Appalachians, eastern Great Lakes, and even the Atlantic coast into the weekend. 

    “There is some question as to whether the energy and moisture will be released primarily in the form of a period of heavy rain or a round of severe thunderstorms as the system travels northeastward from the Gulf coast this weekend,” AccuWeather Senior Meteorologist Dan Pydynowski said.
    On Saturday, upwards of 30 million people could be at risk of heavy rains and thunderstorms along the Atlantic Seaboard. 

    Rain is welcomed for the mid-Alantic area, where a moderate drought has developed. 

    … 

    Tyler Durden
    Thu, 04/20/2023 – 18:00

  • "Lawsuit Time": Elon Musk Threatens To Sue Microsoft Over 'Illegal Use' Of Twitter Data
    “Lawsuit Time”: Elon Musk Threatens To Sue Microsoft Over ‘Illegal Use’ Of Twitter Data

    Authored by Katabella Roberts via The Epoch Times (emphasis ours),

    Twitter CEO Elon Musk has threatened to sue Microsoft after accusing the tech giant of illegally using the social media platform’s data for training.

    Elon Musk speaks at the 2020 Satellite Conference and Exhibition in Washington, D.C., on March 9, 2020. (Win McNamee/Getty Images)

    They trained illegally using Twitter data. Lawsuit time,” Musk wrote on Twitter on April 19, without providing further details regarding the allegations.

    https://platform.twitter.com/widgets.js

    His tweet came shortly after Microsoft announced it is removing Twitter from one of its advertising platforms. According to Microsoft’s official website, starting on April 25, Smart Campaigns with Multi-platform will no longer support Twitter.

    As of April 25, 2023, advertising clients will no longer be able to, “access your Twitter account through our social management tool, create and manage drafts or Tweets, view past Tweets and engagement, schedule Tweets,” the website states.

    The company stopped short of providing further details as to why it has dropped Twitter from its advertising platform but noted that other social media channels such as Facebook, Instagram, and LinkedIn will continue to be available to clients.

    However, multiple media publications report that Twitter’s Application Programming Interfaces (API) fees may have been at the center of the decision.

    Changes to API

    Twitter’s API provides third-party companies, developers, and users with programmatic access to Twitter data and features, allowing them to create automatic tweets, search for specific hashtags and receive Twitter engagement data and regulate retweets or responses.

    At a high level, APIs are the way computer programs ‘talk’ to each other so that they can request and deliver information,” Twitter states. Put simply, API provides solutions to companies or developers, allowing them to respond to customer feedback on Twitter, analyze conversations taking place on the platform and send out updates.

    The software intermediary is also a valuable source for academics, according to Wired, which reports that there have been more than 17,500 academic papers based on the platform’s data since 2020.

    Prior to Musk’s takeover of the company, Twitter had offered the program for free. However, in March, the official Twitter Developer account announced that the free version of the program will now only allow developers to write 1,500 tweets per month and they will no longer be able to access tweets, only create them.

    Instead, a brand new set of API plans for developers was rolled out with greater access to various functions, with the highest tiers costing $210,000 a month, according to Mashable.

    Musk ‘Open to Ideas’ for API

    Responding to Musk’s tweet on Wednesday, journalist Brian Krassenstein asked if the businessman has a “long-term plan” regarding the API.

    Read more here…

    Tyler Durden
    Thu, 04/20/2023 – 17:40

Digest powered by RSS Digest

Today’s News 20th April 2023

  • Beijing's Antarctic Land Grab: CCP Builds 5th Base Near South Pole
    Beijing’s Antarctic Land Grab: CCP Builds 5th Base Near South Pole

    Authored by Daniel Teng via The Epoch Times,

    Beijing is embarking on the “most significant” expansion of its footprint in Antarctica after new satellite images revealed the communist regime has resumed construction on a fifth polar station.

    A satellite view with overlays shows areas to be developed at the new Chinese station under construction, on Inexpressible Island, Antarctica, January 2, 2023. Center for Strategic and International Studies (CSIS)/Hidden Reach/Maxar Technologies 2023/Handout via REUTERS

    The new station, located on Inexpressible Island near the Ross Sea, could double as a spying operation, a Washington-based think tank suggests.

    “While essential for tracking and communicating with China’s growing array of scientific satellites, ground stations can support intelligence collection,” the report from the Center for Strategic and International Studies says.

    “Importantly, the station’s position may enable it to collect signals intelligence from U.S.-allied Australia and New Zealand and could collect telemetry data on rockets launching from newly established space facilities in both countries.”

    The CSIS says China has faced more challenges in establishing a footprint in the northern Arctic and, instead, has a “freer hand” to explore the South Pole.

    While the United States still maintains the largest presence on the continent, Beijing’s presence is expanding rapidly. It currently has four stations (all to be expanded), including the Great Wall, Taishan, Kunlun, and Zhongshan stations.

    A map shows the locations of existing Chinese Antarctic stations and the Inexpressible Island site of a new station in this handout image. (Center for Strategic and International Studies (CSIS)/Hidden Reach)

    “The Zhongshan Station’s assets could be leveraged to collect intelligence on foreign militaries in the Indian Ocean, including on the joint U.S.-UK Naval Support Facility Diego Garcia. It could also play a support role in monitoring India’s developing naval forces operating in the region.”

    The Chinese Communist Party (CCP) has maintained that its frequent expeditions to Antarctica are for research purposes only.

    However, the U.S. Department of Defense has said the CCP’s strategy is to develop “dual-use technologies, facilities, and scientific research,” all aimed at improving the capabilities of the Chinese People’s Liberation Army.

    These research stations could also be reference positions for Beijing’s answer to the U.S.-run global positioning system, the BeiDou satellite network.

    “There’s absolutely no reason why Antarctica would be immune from this doctrine,” Anthony Bergin, senior fellow at the Australian Strategic Policy Institute, previously told The Epoch Times.

    “Particular technologies, particular pieces of scientific research, could be morphed into part of a bigger system. It’s not so much we would expect a direct military threat from Antarctica.”

    Antarctic Treaties Under Threat

    The Antarctic Treaty System, established in 1961, is a key agreement governing international relations on the continent. The treaty is considered one of the most “successful sets of international agreements” because it has relied on goodwill and peaceful cooperation between nations.

    Since the CCP ratified the treaty in 1983, it has been steadily expanding its footprint, fishing fleets, and research expeditions to the continent.

    Beijing’s role in Antarctica’s affairs also has been contentious on other fronts.

    In 2022, Russia and China again blocked a proposal to establish a new conservation zone in the area during a Conservation of Antarctic Marine Living Resources (CCAMLR) meeting. This was the sixth consecutive year that such a proposal had been blocked by either party.

    “It’s this weird politicization of science,” Tony Press, a former CCAMLR commissioner, said in an interview with Scientific American.

    “Frankly, it is now holding back progress,” the U.S. delegation to the CCAMLR meeting said in an opening statement. “Countries that have prioritized their individual needs have weakened our ability to meet the shared conservation objectives on which this body was founded.”

    Tyler Durden
    Wed, 04/19/2023 – 23:40

  • Silver Vs Stocks: Comparing Performance During Recessions
    Silver Vs Stocks: Comparing Performance During Recessions

    Historically, silver has been an alternative to traditional investments like stocks and bonds.

    Amid the recent wave of bank failures and rising interest rates, many investors sought the metal, making prices jump.

    But has silver helped investors weather recessionary storms in the past?

    The infographic below, via Visual Capitalist’s Bruno Venditti, uses data from Macrotrends to highlight silver’s price movements during recessions and compares it to changes in the S&P 500.

    Silver Price During Recessions

    Like gold, silver’s value comes from its scarcity as a precious metal. Silver, however, has a higher industrial use, from electronics and medical applications to batteries and solar panels.

    Additionally, the silver market is much smaller than the gold market, making it a much more volatile asset.

    The metal saw its biggest price drop in 1980 when it tumbled over 56% after the Hunt brothers, who controlled over half of the world’s privately owned silver, failed in an attempt to corner the market and were forced to sell after a rise in margin requirements.

    Silver prices plummeted again during the 1990s recession before a steady recovery that culminated in an all-time high reached in 2011, three years after the 2007-2008 Financial Crisis.

    Over the last five decades, silver has only outperformed the S&P 500 in three of eight recessions: 1973, 1981 and 2007.

    As of March 2023, the silver nominal price was down 6.1% while the S&P500 was down 3.3%.

    Silver Price in 2023

    Over the next months, silver demand is expected to rise, supporting the price. Silver’s industrial market could be lifted from further gains in vehicle electrification and governments’ expanding commitment to green infrastructure, according to the Silver Institute.

    However, if the economic scenario worsens and industrial users of silver reduce their output, the metal may face some headwinds.

    Tyler Durden
    Wed, 04/19/2023 – 23:20

  • Republicans Rally Behind Donald Trump – The List Is Growing
    Republicans Rally Behind Donald Trump – The List Is Growing

    Authored by Caden Pearson via The Epoch Times (emphasis ours),

    Rep. Lance Gooden (R-Texas) on Tuesday joined the growing list of Republicans endorsing former President Donald Trump for the 2024 presidential election after a positive meeting with Florida Gov. Ron DeSantis.

    Rep. Lance Gooden (R-Texas) at the Protect Children’s Innocence press event outside the U.S. Capitol in Washington on Sept. 20, 2022. (Terri Wu/The Epoch Times)

    In a statement issued on Tuesday, the House Republican from Texas emphasized his belief that Trump’s proven track record and commitment to putting America first make him the best candidate for the GOP nomination.

    “I met with Governor DeSantis, and while he has done commendable work in Florida, there is no doubt in my mind that President Trump is the only leader who can save America from the leftist onslaught we are currently facing,” Gooden said.

    Gooden portrayed the former president as a “tireless” and persistent fighter who supports American jobs and the economy, and stands up against illegal immigration. Gooden also highlighted Trump’s support for the military and veterans, as well as his opposition to the “dangerous socialist agenda” promoted by the radical left.

    “I wholeheartedly endorse President Donald J. Trump for the 2024 presidential election and vow to fight alongside him to reclaim our country from the leftist forces that threaten to destroy it,” Gooden said. “Together, we will ensure a prosperous and secure future for our great nation.”

    Florida Republicans Endorsing Trump

    Gooden joins a growing list of House Republicans backing the former president for the Republican nomination, including seven members from Florida who’ve backed Trump over DeSantis.

    This week, Republican Reps. Greg Stuebe, John Rutherford, and Brian Mast joined Cory Mills, Anna Paulina Luna, Byron Donalds, and Matt Gaetz, who already endorsed Trump.

    Steube told Newsmax on April 17 that Trump is “the only person that can reverse on day one all these disastrous policies of the Biden administration.”

    “We need to right all the wrongs that have happened under this administration, fix the things that happen in Afghanistan, support our military and our veterans, and do the things that the America First agenda stands for, and that is one person, Donald Trump,” Steube said.

    “I’m honored to add my endorsement to the long list of endorsements for President Trump,” he added.

    Donalds, who publicly endorsed Trump earlier this month, declared him the only leader who can get America “back on track” and provide the strength and resolve to “make America great again.”

    Other Endorsements

    Trump has received more than 39 endorsements from House Republicans, the most of any declared candidates, according to Ballotpedia.

    He also gained the support of seven senators and one governor, Henry McMaster of South Carolina.

    On April 13, Trump picked up his seventh Senate endorsement from Sen. Ted Budd (R-N.C.). Budd said America was stronger and safer under Trump but, in contrast, had become “a nation in decline” under President Joe Biden. This echoed Trump’s remarks in November when he announced his candidacy.

    “That’s why I endorse Donald J. Trump for President,” Budd said. “Hardworking, everyday families need a return of the America First agenda to restore prosperity and peace.

    The six other GOP senators who have endorsed Trump’s presidential bid are Sens. Cindy Hyde-Smith (R-Miss.), Lindsey Graham (R-S.C.), Tommy Tuberville (R-Ala.), Markwayne Mullin (R-Okla.), Eric Schmitt (R-Mo.), and J.D. Vance (R-Ohio).

    Trump has garnered a diverse array of endorsements from House Republicans spread across 16 states, with the largest number of endorsements coming from Texas, which had 12 as of April 13, according to Ballotpedia, which updates its statistics weekly.

    South Carolina has four endorsements for Trump, while Arizona has three; the remaining states have one to three endorsements each: Alabama, two; Colorado, one; Georgia, one; Illinois, two; Indiana, one; Louisiana, one; New Jersey, one; New York, two; Ohio, three; Tennessee, one; West Virginia, one; and Wyoming, one.

    Meanwhile, DeSantis, who has not announced his candidacy but has been spending time in early primary states, has so far received two House GOP endorsements from Reps. Chip Roy (R-Texas) and Thomas Massie (R-Ky.).

    While DeSantis has support among Republican voters, recent polls have consistently placed him second behind Trump in a possible 2024 Republican primary matchup.

    The latest endorsements of Trump come shortly after the former president pleaded not guilty to 34 counts of falsifying business records as part of Manhattan District Attorney Alvin Bragg’s investigation into hush-money payments to adult entertainment actress Stormy Daniels during his 2016 campaign.

    Trump, who has maintained his innocence, has stated that Bragg has “no case” against him.

    Tyler Durden
    Wed, 04/19/2023 – 23:00

  • Black Incarceration Rates Are Dropping In The US
    Black Incarceration Rates Are Dropping In The US

    The incarceration rate of Black men in the U.S. has been dropping after reaching a high in 2001.

    Infographic: Black Incarceration Rates Are Dropping in the U.S. | Statista

    You will find more infographics at Statista

    Yet, as Statista’s Katharina Buchholz reports, the rate at which Black U.S. men are imprisoned is still many times that of the white and more than double that of the Hispanic male population.

    According to the Bureau of Justice Statistics, 1,807 Black men per 100,000 were held in state or federal prisons in the U.S. during 2021 after being sentenced (that’s roughly one in 55). This number doesn’t include people in county jails or in pre-trial confinement.

    All in all, the Sentencing Project estimated at the height of the incarceration crisis in 2001 that the likelihood of a Black men spending time behind bars in their lifetime was 1 in 3, while it was 1 in 17 for all U.S. men.

    Imprisonment rates for women are much lower across the board in the U.S., and the rate of Hispanic and Black women being imprisoned has equally dropped since the late 1990s. The group with the lowest overall incarceration rate, white women, are unique in the sense that their imprisonment rate was growing quite steadily since 1980 and only started dropping since 2015.

    Different theories exist why Black incarceration rates have been declining. For one, crime and arrests have been decreasing in the U.S. overall. Also, the war on drugs has shifted its focus onto meth and opioids, which are drugs associated to a larger extent with the white population. Finally, criminal justice reform might have had some positive effects too, according to the Marshall Project.

    Tyler Durden
    Wed, 04/19/2023 – 22:40

  • Luongo On The 'Straight From ShitLib Central-Casting Gun-Enthusiast' Pentagon-Leaker
    Luongo On The ‘Straight From ShitLib Central-Casting Gun-Enthusiast’ Pentagon-Leaker

    Authored by Tom Luongo via Gold, Goats, ‘n’ Guns blog,

    The “Pentagon Papers’ is making the rounds as the big new event of the past couple of weeks. The controversy is over the ‘leaks’ of strategic briefing documents detailing US future plans for the war in Ukraine. I’ve watched this story unfold with a weather eye but wanted to wait to see how it would progress before commenting.

    I know, not going for the click-bait at the height of the anxiety-pimping is a rare thing these days.

    This morning Kit Knightly at Off Guardian put out a strong post on the disinformation process that I believe is worth your time. Even though I disagree with his conclusion, or more precisely leave myself open to a different conclusion, his Disinfo Radar isn’t far off from the calibration zero-point.

    This leak has all the hallmarks of being a fake, by Kit’s 5 point heuristic, a heuristic I think has value, just not singular value. This ‘leak’ doesn’t fit this model because of other responses to it. Because in order to sweep it into the corner, it burned the media as information gatekeeper in ways that those with power never do. More on that later.

    Black is the new Red

    For now let’s focus on the black-pilled, those that live in a perpetual state of cynicism. For them it is easy to just dismiss this event the way Kit does, as something to shift the Overton Window in such a way as to reinforce the narrative they want you engaged in –in this case maneuvering us into supporting another war for globalism.

    It’s all content designed, in the parlance of social media, to boost engagement. Because the system has adapted, they don’t manufacture consent anymore – they farm participation. Angry refutation and warm praise record the same in the algorithm. They don’t want your agreement, they want your attention. And when they feel the story is losing the audience, well, here’s some super secret facts you aren’t supposed to know.

    This is an excellent point that I agree with, in theory. Yes, they use multiple approaches to move public opinion. Yes, they like to hand out red pills to the normies to give them the cheap dopamine hit of ‘figuring stuff out.’

    But, here’s the thing about this type of insight, it’s its own form of psy-op.

    Formally identifying this gives the disinformation brokers the flexibility to use both of these techniques (and other techniques) to keep people like Kit and fellow travelers like Whitney Webb and others focused on trying to figure out which one it is.

    I hate to single Whitney out here because I genuinely like her and believe she’s an honest broker, but I have to because of her current obsession, Jamie Dimon, which I’ve been asked about by so many people (again, more on that later),

    The thing to observe is when they figure it out, they will write, talk and text about it.

    It drives traffic, gives positive feedback, and has all the appearance of both real journalism and sincerity (which, by the way, I’m not doubting) but is it for the right reason?

    It looks to me like chum for smart people to feel clever and one step ahead of the bad guys. The positive feedback drives subscriber and revenue growth reinforcing the idea of work well done.

    But is it really? Or are they just rats chasing the trail laid for them by the cheese mongers?

    I say this as someone acutely aware of their own personal tendency to doing just that. It’s not hard to fall down the wrong rabbit hole, obsessed with facts but not what they mean…

    This is why all heuristics in an information space as polluted as this one need constant error checking.

    Conversing With Tyrants

    Uncovering the techniques of control are just uncovering the mechanics. In this case, however, it looks like it is uncovering the agenda, but I don’t think that’s the case here.

    Ultimately, it brings to mind Gene Hackman’s ultimate fate in Coppola’s classic movie The Conversation, playing his saxophone in the ruin of his apartment secure he’s satisfied his paranoia.

    For all of his skills and brilliance, rather than be an asset, he’s been taken off the board chasing shadows.

    That’s the trap of focusing on the what (the corruption) and the how (the mechanisms) but not the why.

    This is a serious issue going forward.

    Distrusting those with power goes without saying. We’re all operating in this space with this basic drive. No doubt, there. It’s our duty to uncover truths, but it’s also important to question our own frameworks, lest we become reflexive repeaters of the very disinformation we believe we are uncovering.

    So, in this case to dismiss the Pentagon Papers as just another control technique may feel right but be completely wrong because it assumes the basic fallacy of this period of history, that there is only one big club vying for control over the West.

    The Division Hell

    I’ve produced a lot of content making the case for counter revolution within the US power hierarchy. The basic premise is that as groups approach existential threats to their power and/or position they will react in predictable ways to maintain their power.

    It isn’t complicated. But it does mean that corrupt people may act in ways counter to how they reacted previously, forsaking old relationships. I’ve never believed group identity is eternal because I don’t believe cartels are anything other than meta-stable based on mutual coincidence of wants.

    Because of that we have to remain open for people to surprise us with moves that seem out of character.

    Only the most ideologically nihilistic would pursue Davos’ path. Only those with a hatred of humanity born of a deep wellspring of love for all things Malthusian would bring us to this point. [inviting open war between nuclear-armed powers]. And to deny that there’s anyone in a position to oppose this from our side of the new Berlin Wall is just surrender masquerading a cynicism. [emphasis mine]

    To understand how fragile Davos really is I put it to you like this: For the price of a few hundred basis points, the Fed forced a coup in the UK, the ECB into a tightening cycle with more yield curve control, likely blew up FTX and its burgeoning offshore crypto-dollar Ponzi Scheme, and forced the Swiss National Bank to intervene against the bank run on Credit Suisse.

    And this brings me back to the Pentagon Papers. It is the height of lunacy to believe there aren’t people out there honestly trying to stop this train before it stops at World War III. To dismiss the leak as just another brick in the imperial wall while not seriously considering the idea that it was done by patriots in the Pentagon is honestly irresponsible.

    Because you can construct that argument very easily, especially given how over-the-top the response was by the “Biden” administration. Do you think John Kirby is really that good at misdirection and misinformation?

    I don’t.

    In fact, his exchange with the media is a major tell that this was not something on the administration’s whiteboard. When the media openly asks how they can help (seemingly supporting Kit’s point #1) we have crossed into new territory. Why?

    Because it’s never been that way before. Yes, we knew the media were court stenographers, people like myself and Kit have known this for more than a decade. But to openly torch what’s left of their credibility to support disinformation to keep the administration’s secrets is something very very new.

    This wasn’t some double-secret 12-D chess maneuver by hyper-competent game players. This was far more what it looked like on the surface, a sphincter-clenching moment of raw panic from people whose lies were outed in pure damage control mode.

    Here’s a better question that’s been going around for days now, How can the FBI find the leaker so quickly when they can’t find their ass with a map and both hands when it’s something they want to keep secret?

    Is your worldview so black that you can’t even consider that this straight from shitlib Central Casting 21-year-old “gun enthusiast” (like that’s even a pejorative) wasn’t fed to them as chum to make their response look as insane as it was?

    That doesn’t look like panic to you?

    Seriously, if this kid was as much of a misguided patriot as he was portrayed you don’t think he wouldn’t lean in and take one for the team for a commanding officer he respects trying to stop the US military from being railroaded into another war it couldn’t win?

    I’m not saying it’s true. What I’m saying is you can’t discount that possibility to zero, or even not consider it as highly likely just because your cynicism is your defense mechanism against disappointment.

    You see in my world the MIC is terrified of everyone finding out that their weapons don’t work. The Dept. of Defense is equally terrified of us finding out they’ve spent trillions on imperial welfare and not very much on actual military preparedness, or that Obama and company have purposefully left it a shell.

    What should scare you more is why that was allowed to happen and for whom was that a strategic goal?

    Talk about a question no one in D.C. wants to face!

    Even if you believe the whole thing is just a massive grift to keep fleecing the Muppets for annual appropriations, it doesn’t track then that they leaked these plans to sell more weapons.

    Because it would be a one and done deal. Sell weapons for a few quarters into a sovereign debt and currency crisis to lose a war (or two) which culminates in the complete humiliation of the US military.

    No way would patriots within the Pentagon and the MIC grifters go for this strategy. The incentives do not line up.

    Talk to the Unseen Hand

    In the same way, as I’ve argued for nearly two years, the incentives for Wall St. and the Fed do not line up either. Which brings me back to Whitney Webb and JP Morgan Chase CEO Jamie Dimon. Whitney is making the rounds with her latest expose on the connections between Dimon and Jeffrey Epstein.

    I’m not commenting on the quality of Whitney’s work or her motives behind it.

    The timing on this is, of course, coincident with Dimon’s legal troubles over the same issue, which we know is a highly politicized issue. Now, if there is one person who has the pull and the power to support the Fed’s moves to regain control over its monetary policy it is Jamie Dimon.

    As such, Dimon then represents one of the biggest threats to Davos’ desired outcomes of a future dominated by full surveillance over all financial activity via CBDCs. Make no mistake, I don’t trust Dimon as far as I could throw him, but I also know that he is a fulcrum on which a lot of future plans rest.

    So, to me, his new legal troubles are a counter-move against him, in a classic ‘nuts and sluts’ campaign to pressure him out of his position. If you think JPM is a monolith then you have a simplistic view of organizations. It isn’t. There are plenty of people at JPM who would sell Dimon down the river for a whole lot less than thirty pieces of silver.

    If Davos can’t get rid of Jerome Powell at the Fed then Dimon is the next best target.

    This isn’t to say that Whitney shouldn’t inform us of Jamie Dimon’s connections, his past, etc. But proving Dimon is dirty is like proving the sun rises in the East. His recent comments in JPM’s annual report about using eminent domain to procure stable energy for the future is easily explained.

    Wall St. loves a one-sided trade and setting monetary policy. There is a healthy probability that Powell may lose the political fight on Capitol Hill and JPM will need to support moronic Climate policies or face extinction, so throwing a bone to the Davos crazies makes sense. But his position that oil needs significant investment is also simultaneously genuine.

    Everyone focused on the solar farms and windmills but Dimon’s statement also included the only thing you would actually use eminent domain for… pipeline. And pipelines are a big Davos no-no.

    The real job of the journalist/analyst is to ask why is it that all of a sudden we know of Dimon’s past associations with Epstein?

    Who’s seeding that into the zeitgeist? If you’re going to take the bait and ‘expose the real Jamie Dimon’ then shouldn’t you also ask why someone is putting that idea in your head?

    If you’re really interested in the truth then you would always keep your radar for such stuff in good working order.

    But if Dimon really is a WEF/Davos stooge then why is he being pursued in a kangaroo court similar to what Donald Trump is currently going through (also an Enemy of Davos) and what was done to Matteo Salvini in Italy over his migrant policy.

    No one is out there defending Jamie Dimon as the victim of a Soros-backed smear campaign because he’s the epitome of what is hated in the world right now: a rich, white guy, CEO of the most powerful bank in the world.

    Ask yourself who benefits from taking him down?

    If Dimon was a Davos stooge as Whitney suggests then why aren’t his legal troubles going away rather than seemingly multiplying?

    This is the core of one of my basic heuristics in trying to parse real information from the fake, what are they trying to make me believe about what’s in front of me? Do I believe that?

    Why is it being amplified through the response engines of social media?

    This is especially relevant knowing full well that the reason Dimon is on the hot seat in the first place is because he’s openly defied Davos’ Climate Change orthodoxy by echoing Powell’s ‘higher for longer’ rhetoric, his firm being at the forefront of the transition from a Eurodollar system backed by LIBOR to a new US-focused system built on SOFR, and his going to Davos 2023 this year and proclaiming that oil will be with us for the next fifty years.

    In the end the conversation we should be having isn’t over who did what before the game reached its terminal phase but who they will become when theirs is the head on the chopping block and why?

    And that’s the real heuristic needed to parse where things are headed and who’s on which side of the ledger.

    *  *  *

    Join my Patreon if you hate recursion

    Tyler Durden
    Wed, 04/19/2023 – 22:20

  • NHL Former PK Subban On Pride Jerseys: "We Cannot Push Everyone To Be An Activist"
    NHL Former PK Subban On Pride Jerseys: “We Cannot Push Everyone To Be An Activist”

    NHL veteran and legendary defenseman PK Subban is speaking out against the league trying to mandate Pride Night jerseys onto its players after numerous well known players have declined to wear them during games. 

    He called the move a “push” to make everyone an “activist”, according to Fox News. He said that he does not believe that a player “needs to be activist” and he said that “there are other ways to show support without having to wear a hat, a T-shirt or a jersey,” the report said.

    He raised the issue that while many people support the LGBTQ community, they don’t need to be mandatorily and involuntarily deputized into speaking out about social issues just because they play sports. 

    Subban commented: “We cannot push everyone to be an activist, we need to be very careful. I feel people pick and choose what they want to talk about and I don’t like it when we put the onus on athletes to be activists.”

    “They don’t need to be activists. I’m not saying it is right or wrong to wear the (Pride) jersey, we have just got to be very careful how we push players to do things,” he continued. 

    “You can support the LGBTQ community without having to wear a hat, a T-shirt or a jersey,” he added.

    Among other players who have cited potential reprisal from Russia as reasons not to wear pride jerseys, the report notes that Flyers defenseman Ivan Provorov, San Jose Sharks goalie James Reimer and NHL veterans Eric and Marc Staal have all declined to wear the jerseys, citing religious reasons. 

    “This is the first time we’ve experienced that, and I think it’s something that we’re going to have to evaluate in the offseason,” commented Commissioner Gary Bettman.

    Coach Rick Tocchet of the Canucks said recently about one of his players opting out due to fears of Russia repercussions: “I’m not going to get into it because we don’t know the deals that happen over there. So I respect his decision.”

    Subban concluded: “The people that write the articles, the people that push certain narratives in the media, they have to be held accountable. We have to be very, very careful about the way we perceive a moment.”

    Tyler Durden
    Wed, 04/19/2023 – 22:00

  • FBI Nixed Raid On Tennessee Religious Compound After Waco Massacre
    FBI Nixed Raid On Tennessee Religious Compound After Waco Massacre

    Authored by Ken Silva via Headline USA (emphasis ours),

    Exactly 30 years ago, the FBI was planning to raid a purported religious compound in Benton, Tennessee—but bureau officials aborted the plan after agents killed 76 people during the disastrous April 19, 1993, raid in Waco, Texas, according to a previously unpublicized document reviewed by Headline USA.

    The U.S. government murdered 82 civilians at Waco, Texas 30 years ago. PHOTO: Public domain

    The FBI’s planned raid on the Tennessee-based “Order of St. John of Jerusalem” was part of a sweeping 1990s-era undercover operation called Patriot Conspiracy, or PATCON, which entailed undercover agents and informants infiltrating the right-wing militia movement.

    Extremism researcher J.M. Berger has extensively covered PATCON, including the planned Tennessee raid. In an April 2012 article for Foreign Policy, Berger wrote that the FBI closed its investigation into The Order of St. John in July 1993 because officials were worried that agents were “only obtaining intelligence and not moving forward with the criminal investigation.”

    But that’s not the whole story. Neither Berger’s research nor publicly available FBI documents indicate that agents had, in fact, planned a similar Waco-style raid in Tennessee.

    This is only revealed in a March 2013 email written by former FBI informant John Matthews, who participated in PATCON. Matthews wrote the email to Jesse Trentadue—an attorney currently embroiled in litigation against the FBI over PATCON—who recently provided the record to Headline USA. The email has not received media attention until now.

    Matthews’ email matches much of what’s written in publicly available FBI PATCON records.

    Those records describe The Order of St. John as an extremist religious group led by a medical doctor named John Grady, who was calling for violence against the federal government. An April 1992 FBI memo said Grady, who also headed the American Rifle and Pistol Association, owned some 340 acres of land that he used to locate a sprawling compound.

    Survival and firearms training has been conducted on the OSJ and APRA property and men have been seen wearing camouflage units and carrying firearms,” the FBI memo said.

    Matthews’ email described how he helped the FBI plan its raid. In the email, Matthews wrote that Grady “had bunkers all over his land.”

    “I took pictures of them inside and out,” he said.

    According to Matthews, the FBI had him bring another undercover government agent—”I believe he was from the Army (Delta Force),” he said—to conduct reconnaissance on the Tennessee property. Grady and his wife were gone for the night, Matthews said, giving him and his Delta Force partner the run of the place.

    “Dr. Grady did not know I brought this guy in at night … He took notes on how wide the bunker walls were and how the doors were made … I already knew that a team was building up to hit Doc Grady’s place next. They had to know everything about the place in case of a standoff with his followers inside the compound,” Matthews wrote.

    Matthews further said that “within hours of Waco” agents were already headed to Tennessee to plan the next raid.

    But top officials apparently had second thoughts, as the Tennessee raid was called off amidst the negative attention federal agencies were receiving after the Waco massacre.

    “Doc Grady was saved by Waco,” Matthews wrote. “Seeing Waco did not go over so well in the eyes of a lot of folks, they did not raid Doc Grady’s, for it would have opened a bigger can of worms and a war may have started from the groups across the country.”

    Headline USA was unable to contact people who can corroborate Matthews’ story. The FBI has declined to comment on PATCON, while Grady died in 2018. The Order of St. John’s website is still active, but the group did not respond to an email seeking an interview or comment.

    Grady reportedly denied all allegations of illegal activity when interviewed by extremism researcher Berger in 2012.

    Every statement that you’ve shown me is false,” Grady reportedly told Berger, disputing the contention in FBI documents that his religious and gun-rights groups were white supremacist in nature. To Grady’s point, the fact that the FBI called off its raid after receiving public backlash from Waco indicates that agents found no hard evidence of criminality at his compound.

    Berger has also been quiet about PATCON in recent years. Whereas his early work exposed FBI malfeasance, journalist Matt Taibbi recently revealed in his Twitter Files reporting that Berger later became a contractor for the State Department’s “Global Engagement Center.” Berger created a tool that’s now being used by the GEC to push censorship on the internet, according to Taibbi.

    https://platform.twitter.com/widgets.js

    Matthews, for his part, is unavailable because he has been off the grid since around 2014, when he was going to testify as a witness for Trentadue in his lawsuit against the U.S. government. Matthews changed his mind about testifying the night before he was supposed to take the stand, leading to Trentadue alleging that the FBI engaged in witness tampering and threatened Matthews.

    Trentadue’s allegations have been subject of a court-appointed investigation for the last nearly eight years. The investigation has been conducted behind closed doors, with gag orders on all parties.

    Trentadue told Headline USA he believes Matthews’ story to be highly credible, as the former PATCON informant has provided accurate information about numerous other secret FBI operations.

    The FBI also finds Matthews to be highly credible.

    As Newsweek noted in a 2011 article about the informant-turned-whistleblower, the bureau honored Matthews for his service after serving as an informant throughout the ‘90s, giving him a plaque that says the following: “John W. Matthews: In appreciation and recognition for your outstanding efforts in assisting the FBI to combat domestic terrorism throughout the United States: March 28, 1991–May 30, 1998.”

    Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.

    Tyler Durden
    Wed, 04/19/2023 – 21:40

  • REI To Close Portland Store, Citing 'Safety Of Our Employees' And 'Out-Of-Control' Thefts
    REI To Close Portland Store, Citing ‘Safety Of Our Employees’ And ‘Out-Of-Control’ Thefts

    Add outdoor retail giant REI to the growing list of companies planning to close stores in Portland, Oregon, because of rampant lawlessness in the Democrat-controlled city. 

    Oregon Live said REI notified customers on Monday about plans to close its store in Portland’s Pearl District early next year. The retailer said its store in Portland “had its highest number of break-ins and thefts in two decades, despite actions to provide extra security.”

    “While we do not believe a downtown Portland location will be possible in the near term, our stores in Tualatin, Hillsboro, and Clackamas remain open and ready to outfit you with the gear and advice you need to enjoy life outside,” REI told customers.

    REI spokesperson Megan Behrbaum told the local media outlet that REI had made numerous investments in theft prevention, including hiring private security, surveillance technology, and security glass. She said despite all of this, the break-ins and shoplifting continued. 

    “The extra security measures required to keep customers and employees safe are not financially sustainable.

    “We will continue to invest in these areas through the remainder of our lease, but cannot justify continuing this expense through a lease extension beyond early 2024,” Behrbaum said. 

    REI has been added to the list of major retailers shuttering stores in Portland. Walmart and Cracker Barrel called it quits last month. Nike also closed a store to public access, telling city officials that shoplifting was the cause.

    According to the Portland Police Bureau, burglaries, robberies, vehicle thefts, and vandalism have surged over the last several years. The jump in violent crime comes just after the city elected a progressive district attorney in 2019 that implemented social justice reforms that have largely backfired. 

    Portland was once known as the ‘crown jewel of the West Coast’ for its trendy art and food shops but is now transforming into a liberal hellhole of lawlessness as businesses have no choice but to exit to protect margins.  

    More broadly, Portland isn’t the only liberal metro area experiencing business flight. Out-of-touch city leaders in Chicago were furious last week with Walmart’s plan to close stores.

    Tyler Durden
    Wed, 04/19/2023 – 21:20

  • The House GOP Effort To Defund – Not Police, But Wokeness
    The House GOP Effort To Defund – Not Police, But Wokeness

    Authored by Ben Weingarten via The Epoch Times (emphasis ours),

    Through executive orders and budget requests, the Biden administration has sought to embed “diversity, equity, and inclusion” principles across the entirety of the federal government – and in turn to touch the lives of every American. Now members of  the Republican House majority, who see this whole-of-government effort as a woke assault on America and its core values, are working to combat it using the power of the purse. 

    In a series of letters to House appropriations leaders, Rep. Jim Banks and like-minded colleagues have identified and called for the defunding of all “‘woke’ programs and initiatives that are rooted in discrimination and promote far-left ideology in the federal government” in 2024 spending bills. 

    The letters, obtained exclusively by RealClearInvestigations, are a product of Banks’ Anti-Woke Caucus, a 26-member group of House Republicans launched by the former chair of the Republican Study Committee earlier this year, and notably counting among its members Rep. Elise Stefanik, chair of the House Republican Conference, members of the House Freedom Caucus, and others. 

    Banks and caucus members delivered the letters to the chairmen and ranking members of each of the 12 House Appropriations Committee subcommittees in late March following the release of President Biden’s $6.8 trillion 2024 budget request.  

    Each letter flags examples of “woke” offices or policies to which Congress allocated funding in relevant 2023 spending bills, and the associated dollars, and calls for those “and all programs that discriminate based on race, gender, and sexual orientation or seek to disparage our nation’s core ideals and history [to] be decreased to $0” in the 2024 versions of the bills. 

    A narrow reading of the line items characterized as woke in the letters – which represent only a partial accounting of such programs and initiatives – shows that such programs totaled over $900 million in 2023. 

    Some of the 2023 programs the Republican members seek to zero out in 2024 include: 

    • The Commerce, Justice, Science, and Related Agencies Appropriations Act’s more than $200 million in spending on programs aimed at increasing race-based hiring and recruitment in STEM. 

    • The State, Foreign Operations, and Related Programs Appropriations Act’s $200 million for the Gender Equity and Equality Action Fund. 

    • The Interior, Environment, and Related Agencies Appropriations Act’s $108 million for “environmental justice” activities. 

    The $900 million outlay excludes broader items highlighted in the letters, like the $3.5 billion earmarked for energy efficiency and renewable energy in the 2023 Energy and Water Development, and Related Agencies Appropriations Act. Given that the letters represent only a partial accounting of such programs, the vagueness of budget language, and the discretion with which federal agencies can act, tax dollars advancing such efforts may well substantially dwarf these figures. 

    The letters also target language in the 2023 versions of: 

    • The Commerce, Justice, Science, and Related Agencies Appropriations Act, claiming that “white supremacists and violent anti-government domestic extremists” are “infiltrating security and law-enforcement agencies.” 

    • The Department of Homeland Security Appropriations Act, directing Immigrations and Customs Enforcement to detain transgender illegal aliens at facilities only with staff who have received “LGBTI Sensitivity and Awareness Training,” and medical personnel with experience delivering hormone therapies. 

    • The Energy and Water Development, and Related Agencies Appropriations Act, requesting that the Department of Energy consider social equity and environmental and energy justice in state and community energy programs. 

    “We believe that the House Republican majority has a responsibility to use its spending powers to ensure that we do not contribute further funding to anti-American and divisive initiatives,” the signatories to each letter wrote. 

    Tough Odds

    They face tough odds given Democratic control of the Presidency and Senate and the persistence of budgetary gridlock in Congress. Though the House has primary power under the Constitution to tax and spend, only three times in the last 47 years has Congress completed a budget in advance of the subsequent fiscal year, which begins October 1 — often relying instead on continuing resolutions that temporarily fund the government at existing levels. This year spending disagreements extend to negotiations to avert a U.S. debt default by relaxing the limit on federal borrowing, a ceiling some expect the government to reach this summer; in those talks, the Biden administration has refused to contemplate any cuts at all.

    Should Congress pass and President Biden ultimately compromise on a budget that does not wholly comport with his progressive priorities, his administration could be expected to circumvent the anti-woke constraints. In a recent precedent, President Trump declared a national emergency to justify redirecting funding to build a southern border wall that Congress had not so allocated. The courts ultimately blessed that effort. But in his first day in office, President Biden froze it.  

    When asked about chances of GOP success in the present effort, Rep. Banks told RCI that:  

    This needs to be the Republican majority that says enough is enough. Speaker Pelosi famously said “show me your budget and I’ll tell you your values.” This appropriations cycle, Republicans need to show that we value liberty, patriotism and legal equality and that we reject dividing Americans based on race, anti-Americanism, radical gender ideology and climate hysteria. 

    Even if the defunding effort fails, the Banks-led coalition may see a political benefit to pursuing it: pushing Democrats in the 2024 election cycle to stake out positions on more deeply ideological – and presumably less broadly popular – programs.

    RCI asked ranking Democrats on several of the appropriations subcommittees for comment on the Banks letters, and had not received any responses at the time of publication. 

    The House Anti-Woke Caucus members’ budget requests represent its most extensive legislative effort to date. 

    In March, the caucus reportedly held its inaugural dinner and endorsed its first piece of legislation, the Fairness, Anti-Discrimination and Individual Rights (FAIR) Act. Sponsored by Anti-Woke Caucus member Tom Tiffany, a Republican from Wisconsin, the bill would bar any federal agency, contractor, state, or private entity that receives federal funding from discriminating against or granting preferential treatment on the basis of race, color, or national origin. 

    Banks announced he would be establishing the Anti-Woke Caucus in January, pledging to “fight institutionalized wokeness” – an announcement that came just days before he would declare his candidacy for an open U.S. Senate seat in Indiana in 2024.  

    In an interview for RealClearPolitics in February, the Indiana congressman indicated that the caucus had three missions – the first two to which the appropriations subcommittee letters seem to aim: To “Identify Wokeism, defund it and uproot it, and then hold those accountable for it.” 

    Banks added that wokeism is “a cancer that’s going to eat our country inside out and kill us if we don’t do something about it.” 

    Tyler Durden
    Wed, 04/19/2023 – 21:00

  • Post-Pandemic Burnout: 20% Of Nurses May Quit In Next Four Years, Says Survey
    Post-Pandemic Burnout: 20% Of Nurses May Quit In Next Four Years, Says Survey

    The total American nursing workforce has fallen 3.3% over the past two years, but experts expect the trend is about to rapidly accelerate — to the point that one in five nurses could call it quits by 2027.  

    “High workloads and unprecedented levels of burnout during the COVID‑19 pandemic have stressed the U.S. nursing workforce, particularly younger, less experienced RNs,” write the authors of a survey-study published on Thursday in the Journal of Nursing Regulation

    We pause to ask…was any of that burnout due to practicing choreographed dance routines for TikTok? 

    https://platform.twitter.com/widgets.js

    More than 100,000 left nursing during the pandemic, and researchers say another 800,000 could bail in the next few years. The paper was the focus of a panel discussion at the National Press Club hosted by the National Council of State Boards of Nursing (NCSBN), reports MedPage Today.   

    Such an exodus would have powerful ripple effects throughout healthcare, said Brendan Martin, NCSBN’s director of nursing regulation. 

    The survey included more than 54,000 respondents, with 92.5% of them being women. Key findings: 

    • 50.8% feel emotionally drained
    • 56.4% feel used up
    • 49.7% feel fatigued
    • 45.1% feel burned out or “at the end of their rope”

    In an ominous sign for what’s to come, quitting nurses skew young: 41% of the post-pandemic flameouts had an average age of 36 and fewer than 10 years on the job. Age and workload are key factors, say the study’s authors: 

    “The most pronounced differences emerged when comparing early career nurses with higher workloads to their more experienced peers with normal workloads. In this comparison, early career respondents with high workloads were more than three to four times more likely to report higher frequencies of feeling emotionally drained, used up, fatigued, burned out, or at the end of their rope.”  

    At the height of the pandemic, this Russian nurse opted to wear just a bra and panties under see-through PPE. Despite patients having “no complaints,” she was disciplined. (New York Post)

    Tyler Durden
    Wed, 04/19/2023 – 20:40

  • Transgender Athlete Barred from Australian Women’s Basketball League
    Transgender Athlete Barred from Australian Women’s Basketball League

    Authored by Daniel Y. Teng via The Epoch Times (emphasis ours),

    Transgender athlete Lexi Rodgers has been barred from playing in the NBL1 South women’s basketball league in the Australian state of Victoria.

    The decision was handed down by an expert panel after former NBA star Andrew Bogut broke the news of Rodgers’ involvement.

    In a statement on April 18, Basketball Australia said former AFL Chief Medical Officer Dr. Peter Harcourt, Olympian Suzy Batkovic, and Associate Prof. Diana Robinson concluded that Rodgers was ineligible to play for the Kilsyth Cobras.

    “Firstly, on behalf of Basketball Australia, I’d like to acknowledge and sincerely thank Lexi for her cooperation, understanding, and patience throughout this process—it’s a complex space that continues to evolve,” said Batkovic.

    “While Lexi is understandably disappointed with the outcome, I know she’ll continue to support her NBL1 South team throughout the season and be an active member of the basketball community.”

    NBL1 sits just below the country’s top-flight basketball competition, the National Basketball League.

    Reaction to the Decision

    Basketball Australia maintained that it would assess transgender applications on a “case-by-case” basis and consider a “balancing range of factors.”

    Rodgers and the Kilsyth Cobras team have been informed of the decision.

    In response, Rodgers wrote on Instagram that she had participated in good faith in the process, saying it was not the end of her journey.

    “I am sad about the potential message this decision sends to trans and gender-diverse people everywhere. I hope that one-day basketball’s governing body can replicate the inclusion and acceptance I have found on the court with my teammates,” she wrote.

    However, Bogut said it was the right decision.

    “It is beyond alarming we live in a time where an ‘expert panel’ is needed to make these decisions,” he wrote on Twitter. “Don’t let the activists try and overcomplicate what is simple: Women’s sports are for Women.”

    Bogut had earlier accused administrators of a lack of transparency around Rodger’s participation.

    Members of that club don’t know. Other teams in that league don’t know,” Bogut said on Instagram. “I’m not afraid to speak about it. I think it needs to be discussed.”

    “This athlete in question has already played the game. From what I understand, a friendly game against a team that had no idea it was going forward. They asked some questions, apparently before the game [and] the game still went ahead—kind of like, ‘Too bad, deal with it.’”

    The head of Christian Voice Australia, Greg Bondar, said transgenderism was a growing trend that was impacting more and more younger people.

    “The Williams Institute at the UCLA Law School reports that the number of young people identifying as transgender has doubled in just the last few years and that one out of five people who identify as transgender are 13 to 17 years of age,” he said in a statement.

    Transgender Players in Sport a Contentious Issue

    Meanwhile, the inclusion of transgender athletes in sports has received much public scrutiny.

    In early April, criticism was aimed at transgender golfer Breanna Gill who won the Australian Women’s Classic at Bonville Golf Resort in New South Wales.

    Thoughts on having a transgender-specific league? Or transgender-specific sports?” wrote Hailey Rae Ostrom, a U.S. professional golfer, on Twitter.

    While global swimming administrator FINA voted on June 2022 to regulate transgender athletes more stringently, only allowing biological males into women’s competitions if they had not experienced puberty yet.

    Athletes must maintain testosterone levels below 2.5 nmol/L. Around 71 percent of FINA’s 152 members voted in favour of the new rule.

    Additionally, The World Athletics Council has banned biological males from competing in elite female competitions and tightened testosterone restrictions for other athletes, stating that its top priority is to maintain the integrity of the female category in athletics.

    The Council said in a statement that it has agreed to exclude male-to-female transgender athletes who have been through male puberty from the female World Rankings competition, effective from March 31, 2023.

    Meanwhile, U.S. beverage giant Bud Light saw its sales plummet following the release of an advertising campaign featuring transgender activist Dylan Mulvaney.

    Restaurant owner Jeff Fitter, owner of Case and Bucks, reported sales of the brand’s bottled products dropping 30 percent over the past week, and draught beer plummetting 50 percent.

    In Bud Light’s effort to be inclusive, they excluded almost everybody else, including their traditional audience,” he told Fox Business.

    CEO of the parent company, Anheuser-Busch, was forced to apologise for the ad.

    “We never intended to be part of a discussion that divides people. We are in the business of bringing people together over a beer,” said Brendan Whitworth, in a statement.

    Bud Light’s customer base is comprised largely of sports fans and middle Americans.

    Tyler Durden
    Wed, 04/19/2023 – 20:20

  • Trump's Palm Beach Mansion Next To Mar-A-Lago Hits Rental Market
    Trump’s Palm Beach Mansion Next To Mar-A-Lago Hits Rental Market

    Mansion Global reports a Trump family-owned oceanfront beach house in Palm Beach, Florida, down the street from Mar-a-Lago, has returned to the rental market after a failed sale despite a red-hot South Florida housing market.

    “A one-of-a-kind direct oceanfront estate boasting 10,455 total square feet of living space and unobstructed views of the Atlantic, 1125 S Ocean features 8 bedrooms, 8 full and 3 half bathrooms,” the description of the beach house reads on Zillow. 

    It further said, “This iconic, trophy property is rarely available for lease and includes over 200 feet of water frontage … and for approved occupants, residency at the beach house comes with coveted access to the exclusive Mar-a-Lago Beach Club next door.” 

    Margit Brandt of Premier Estate Properties has the rental listing and is asking $195,000 per month or about $2.3 million per year. 

    “In Palm Beach, we’ve seen so much movement from all different parts of the country and the world.

     “It’s the perfect house for someone who wants to try out Palm Beach,” Premier Estate Properties’ Margit Brandt, who listed the rental, told Bloomberg.

    Between 2021-22, the property’s asking price increased from $49 million to $59 million. Despite the booming South Florida real estate market, no buyer was found. 

    Bloomberg pointed out the beach house was previously in a trust in the name of Trump’s sister, Maryanne Trump Barry, which sold for $18.5 million in 2018. The current owner is a limited liability company that lists Eric Trump and Donald Trump Jr. as officers. 

    For those seeking entry to the Mar-a-Lago Beach Club, renting Trump’s beach house might be the golden ticket inside. 

    Tyler Durden
    Wed, 04/19/2023 – 20:00

  • As Soros-Backed Prosecutor Fights Attempt To Oust Her, Judge Sets Separate Contempt Hearing
    As Soros-Backed Prosecutor Fights Attempt To Oust Her, Judge Sets Separate Contempt Hearing

    Authored by Janice Hisle via The Epoch Times,

    Accusations of mismanagement and chaos are piling up against St. Louis Circuit Attorney Kim Gardner.

    St. Louis Circuit Attorney Kim Gardner speaks in St. Louis, Mo., on Jan. 13, 2020. (Jim Salter/AP Photo)

    Gardner appeared in court on April 18, the first hearing in Attorney General Andrew Bailey’s attempt to remove her from office. Gardner’s lawyers are seeking dismissal of that case.

    Bailey asserts she neglected her duties by failing to properly staff her office and allowing thousands of criminal cases to languish. Gardner’s lawyers counter that Bailey never even alleges she committed any “intentional” acts that would justify her ouster.

    Lawyers from Bailey’s office argued that Gardner should be disqualified from holding office because of her alleged pattern of “inaction” and “willful neglect” of her duties.

    A day before the hearing, a judge ordered Gardner to “show cause” why she shouldn’t be held in contempt of court for failing to ensure that prosecutors from her office show up for a murder trial on April 17. A hearing in that matter is set for April 24, the St. Louis Post-Dispatch reported.

    The contempt action comes after a judge sanctioned Gardner for failing to turn over evidence in a double murder case earlier this month.

    Missouri Attorney General Andrew Bailey speaks to his staff in March 2023. (Courtesy of the Missouri Attorney General’s Office)

    During the hearing in Bailey’s case against Gardner, a representative of judges in St. Louis’ 22nd Circuit Court said: “The circuit attorney’s office is now in a state of near total collapse.” The man, whose name was unclear during a live broadcast of the Gardner hearing, told Visiting Judge John Torbitzky: “An expedited resolution of this matter is very important.”

    Torbitzky is expected to decide within a couple of weeks whether to throw out Bailey’s petition against Gardner. He ordered attorneys to file written arguments about the motion to dismiss within a week; Torbitzky said he would decide whether to dismiss the case promptly after that.

    If it proceeds, a trial likely would be held in September, based on a scheduling discussion during the hearing.

    In his original court filing (pdf) against Gardner, Bailey wrote: “She has sacrificed the safety of the city of St. Louis. She has squandered the goodwill of the courts through misdirection and incompetence. She has turned away grieving families while murderers walk free.”

    Action Follows Outcry

    But an attorney representing Gardner, Jonathan Sternberg, said Bailey doesn’t have the goods on Gardner.

    “This is an attack on the democratic process by someone who was never elected,” Sternberg said, taking a dig at Bailey, who was appointed to his position in January after the former attorney general, Eric Schmitt, became a member of the U.S. Senate. Bailey and Schmitt are Republicans; Gardner is a Democrat.

    “Mr. Bailey doesn’t like the job Miss Gardner is doing,” Sternberg said. So the appropriate remedy would be for Bailey to support an opposition candidate in the next election rather than trying to throw her out of office via a court proceeding, Sternberg said.

    Such drastic action should be reserved for cases involving intentional acts and corruption, which aren’t alleged in this case, Sternberg said.

    Janae Edmondson Case

    Bailey filed the action against Gardner last month following a public outcry over the tragic case of Janae Edmondson. That visiting teen athlete, who is from Tennessee, lost both of her legs in a pedestrian-vehicle crash. The driver accused of causing the crash that hurt Janae, is an armed robbery suspect who remained free despite violating his house arrest order dozens of times.

    Janae Edmondson, a Tennessee teen athlete, lost both of her legs after a speeding vehicle caused a crash as she walked with her parents in St. Louis, Mo., on Feb. 18, 2023. (Rhonda Ross/GoFundMe)

    Gardner is one of 75 prosecutors nationwide who benefited from billionaire George Soros’ efforts to get “progressives” elected, according to author Matt Palumbo, who wrote a book about Soros.

    Gardner’s battle to keep her job is occurring in the context of a national debate over the alleged “soft-on-crime” policies of some Democrat prosecutors in big cities, particularly those who received backing from funds from Soros. According to The Missouri Times, Gardner’s campaign benefited from Soros’s largesse.

    Although embattled, Gardner has announced she is seeking re-election in 2024 to the position she has held since 2017.

    Tyler Durden
    Wed, 04/19/2023 – 19:40

  • Taylor Swift Rejected $100 Million FTX Sponsorship Over 'Unregistered Securities' Question
    Taylor Swift Rejected $100 Million FTX Sponsorship Over ‘Unregistered Securities’ Question

    While Tom Brady, Shaquille O’Neal, Giselle Bündchen, Larry David and other celebrity promoters are currently being sued over their endorsement of failed cryptocurrency exchange FTX, Taylor Swift isn’t among them – because she was the only celebrity to ask whether NFTs were unregistered securities, according to the lawyer handling a class-action lawsuit against the other celebs.

    During an appearance on “The Scoop” podcast, attorney Adam Moskowitz said the plaintiffs are seeking more than $5 billion from the celebrity endorsers, who he says didn’t do their due diligence to determine whether the crypto exchange was breaking the law.

    “The one person I found that did that was Taylor Swift,” said Moskowitz, who added that FTX wanted Swift to sell concert tickets as NFTs – which Swift questioned.

    “In our discovery, Taylor Swift actually asked them: ‘Can you tell me that these are not unregistered securities?'” said Moskowitz.

    Swift’s father notably used to work for Merrill Lynch.

    According to the Financial Times, Swift began discussing the $100 million sponsorship in the fall of 2021. FTX would implode one year later, after concerns over commingling customer funds led to a stampede of withdrawals.

    The class-actioon lawsuit accuses celebrities of promoting an unregistered security – which, when sold in the United States, must be registered with the SEC. In a December complaint, the SEC said that the company’s cryptocurrency, FTT, was classified as a security because it was sold as an investment contract, yet was not appropriately registered.

    “In order to induce confidence and to drive consumers to invest in what was ultimately a Ponzi scheme,” the defendants “made numerous misrepresentations and omissions,” according to the lawsuit.

    https://platform.twitter.com/widgets.js

    Tyler Durden
    Wed, 04/19/2023 – 19:20

  • The Bullet Train Epitomizes Golden State Corruption
    The Bullet Train Epitomizes Golden State Corruption

    Authored by Edward Ring via AmGreatness.com,

    California’s failing rail project is a metaphor for a state that has turned its back on the ordinary, hardworking people who live there…

    It sounded too good to be true, and it was. Travel from downtown San Francisco to downtown Los Angeles in two hours via high-speed rail. California voters in 2008 approved Proposition 1A, authorizing $9.95 billion in general obligation bonds to build this so-called “bullet train.” They were told not only that the total cost would only be $33 billion but also that the entire 500-mile system would be running by 2030.

    Fat chance.

    In March of this year, the California High-Speed Rail Authority released its latest progress report. The project is now projected to cost $127 billion, and there is no longer a projected completion date. The initial stretch of track, a 171-mile segment across the sparsely populated, pancake-flat San Joaquin Valley, is projected to be done by 2030 at a cost of $35 billion.

    These are staggering numbers, a testament to a staggering waste of financial and material resources. For this first segment of track, Californians are going to pay $206 million per mile, and that’s if there aren’t any more overruns. The financing alone—based on preposterously optimistic ridership projections for this segment of 6.6 million riders per year, and a 30-year-term at 5 percent annual interest—would work out to a cost of $348 per ticket. Not exactly an easily affordable means of travel.

    California’s high-speed rail project, in short, is a disaster. Everything about it fails any rational cost-benefit analysis. It will be a permanent financial drain on Californians, because in order for anyone to be able to afford to use the train for a daily commute, ticket revenue won’t even pay operating costs, much less pay back the construction costs.

    From an environmental perspective, the California High-Speed Rail Authority boasts that the initial segment will reduce total vehicle miles traveled in California by 183 million miles. That sounds like a lot until you take into account that Californians logged 340 billion vehicle miles traveled in 2022. High-speed rail by 2030 expects to reduce that total by 1/20th of one percent.

    But the opportunity cost of blowing $127 billion, and counting, on a train that will not significantly alleviate either traffic congestion or “greenhouse gases” is perhaps the bitterest joke of all. For $127 billion, Californians could build infrastructure that would improve their quality of life for generations.

    Even in absurdly expensive California, $127 billion goes a long way. That much money could pay to raise the height of the Shasta Dam, build the proposed Sites Reservoir to its original 2 million acre-feet storage capacity, restore every aqueduct in the state, build new systems to harvest and store storm runoff, upgrade every major treatment plant in the state to recycle and reuse wastewater, refurbish the Diablo Canyon nuclear power plant to last till 2050 or longer, build two additional nuclear power plants of the same size, and resurface and add lanes to every major interstate freeway.

    For $127 billion, even at ridiculously inflated California prices for public works, Californians could have abundant, affordable water and power, they could have a freeway system upgraded for the 21st century, and they would still have tens of billions left.

    Corruption and Waste as a Way of Life

    The problem with spending money on rational, practical solutions that lower the cost of living and improve the quality of life for millions of Californians is that this goal is inconvenient for the special interests that run California. On the other hand, pouring every spare bit of money, materials, and labor into a make-work megaproject serves several hidden agendas.

    The rationale for high-speed rail is to help save the environment, as if adding a 500-mile scar to the landscape, consuming millions of tons of steel and concrete in the process, is somehow preferable to simply upgrading the capacity of existing road and rail assets in the state.

    But the true motivation to fund useless megaprojects is a desire to neglect California’s essential water, power, and transportation infrastructure, because by creating scarcity and high prices for these resources, public utilities and private energy producers reap larger profits. This plays out across several economic sectors.

    For example, public utilities collect regulated profits, fixed at a percent of revenue. If renewable electricity costs several times more than conventionally generated power—and it does and always will if you do honest cost accounting and factor out the punitive permitting costs—then utilities make more profit. Ten percent of $0.40 per kilowatt-hour of renewable electricity at peak is a much bigger number than 10 percent of $0.04 per kilowatt-hour for clean natural gas-generated electricity.

    With water, the higher the price goes, the easier it is for big agricultural corporations to outlast and buy out small family farms, consolidating the industry. It’s also more lucrative for hedge funds that are buying land in California just for the water rights. The higher the price of water, the more valuable their investments.

    One would think California’s powerful unions would recognize the benefit that practical infrastructure investments would have for all working families in California, but they don’t. As long as their construction workers have lucrative jobs on the high-speed rail project, there is no upside to them taking on the environmentalist lobby or the corporate and financial players that profit from scarcity and high prices. Nonetheless, California’s construction unions could be a political wild card. If they want to demand projects that would generate positive economic benefits and help all working families, they have the political power to make it happen.

    The Ripple Effects of Scarcity Policies

    Affordable and abundant water and energy form the foundation for broad-based prosperity. They make home ownership more affordable, because the supply of homes cannot be significantly increased unless there is adequate water. They make electricity and gasoline affordable, which benefits households and businesses. And scarcity of water and energy are not the only essential resources that California denies its citizens.

    Building materials, lumber in particular, need to be imported from other states and nations since California’s state legislature has regulated in-state timber harvesting to less than 25 percent of what it was as recently as the 1990s. But rather than thin the forests with responsible revitalized logging, every year the firefighting industrial complex gears up to collect additional billions fighting cataclysmic fires in overgrown, mismanaged forests, and silences criticism with two words, “climate change.”

    California’s overregulation of everything has led to its so-called housing crisis because it is now impossible for private developers to make a profit building homes that working families can afford. Instead, a host of special interests, collecting countless billions in money from taxpayers, have created a massively subsidized industry in low-income housing and “permanent supportive housing” for the homeless.

    These projects waste stupefying amounts of money, but if regulations were loosened up to allow private development of homes people could afford, or if homeless people were humanely moved off the streets into supervised encampments where they could recover their sobriety and their dignity, the scams would come to a screeching halt.

    Spending $200 million per track mile on high-speed rail and over $500,000 per unit of “permanent supportive housing” has nothing to do with saving the planet or helping the disadvantaged homeless. These insanely overpriced projects endure because spending that money wisely would create a competitive economic environment, threatening the margins and the market share of the special interests that run California.

    Wasting billions on projects that will never yield the public benefits they promise but will nonetheless ensure permanent sources of profit and power for California’s public sector bureaucrats, its environmentalist pressure groups, its public utilities, its hedge funds and pension funds, its corporations, and its subsidized land developers is the business of California’s elite now. All of them are determined to keep things just the way they are. Because for all of them, ongoing public failure is ongoing special interest success.

    California’s High-Speed Rail project is a failure. It is also a metaphor for a state that has turned its back on the ordinary, hardworking people who live there. The larger problem is that California is exporting this mentality into the rest of America, along with its propaganda, and its corrupt, punitive economic model.

    Tyler Durden
    Wed, 04/19/2023 – 19:00

  • Home Foreclosures And Missed Credit Card Payments Surge As Consumers Buckle
    Home Foreclosures And Missed Credit Card Payments Surge As Consumers Buckle

    In the first quarter of this year, home foreclosures surged, as reported by property data firm Attom. Following a two-year lull, pandemic-related housing assistance programs are winding down. Homeowners who chose not to make mortgage payments are now either negotiating new terms with lenders, selling their properties, or, as current trends suggest, facing foreclosure. This troubling rise coincides with consumers falling behind on their credit card payments.  

    While still below pre-pandemic levels, foreclosure filings during the first quarter of 2023 totaled 95,712 properties, up 6% from the previous quarter and 22% from a year ago. This was the 23rd consecutive month with a year-over-year increase in foreclosure activity. 

    “Despite efforts made by government agencies and policymakers to try and reduce foreclosure rates, we are seeing an upward trend in foreclosure activity,” Rob Barber, CEO at ATTOM, said in a statement. He continued:

    “This unfortunate trend can be attributed to a variety of factors, such as rising unemployment rates, foreclosure filings making their way through the pipeline after two years of government intervention, and other ongoing economic challenges. However, with many homeowners still having significant home equity, that may help in keeping increased levels of foreclosure activity at bay.”

    Much of Attom’s data was recorded before Silicon Valley Bank’s demise. A credit crunch followed and sparked further busting of the tech bubble that added capital destruction in private equity and venture capital firms. Now real estate investments, primarily commercial real estate, are being significantly reevaluated as more financial stress is boiling up. 

    Making matters worse is 24 months of negative real wage growth for consumers who’ve maxed out credit cards and drained personal savings. Lower-tier consumers are coming under pressure as big banks are beginning to notice a startling uptrend in credit card and loan payment delinquencies. 

    “We’ve seen some consumer financial health trends gradually weakening from a year ago,” Wells Fargo Chief Financial Officer Mike Santomassimo said on an earnings call last Friday.

    Banks have tightened their lending standards ahead of expected turmoil among consumers. 

    Wells Fargo set aside $1.2 billion in the first quarter to cover potential loan losses.

    Bank of America provisioned $931 million for credit losses in the quarter, much higher than the $30 million a year prior but below the fourth quarter $1.1 billion provision.

    JPMorgan more than doubled the amount it set aside for credit losses in the first quarter from a year earlier to $2.3 billion, reflecting net charge-offs of $1.1 billion. –Epoch Times

    UBS analysts led by Erika Najarian believes mounting macroeconomic headwinds would lead to “credit deterioration throughout 2023 and 2024 with losses eventually surpassing pre-pandemic levels given an oncoming recession.” 

    Najarian said loan defaults are forecast to stay “below the peaks experienced in prior downturns.” 

    However, we’re noticing that consumers are buckling under financial pressure—an ominous sign of trouble ahead

    Tyler Durden
    Wed, 04/19/2023 – 18:40

  • Chinese Lab Developed COVID-19 Virus, Senate Report Claims
    Chinese Lab Developed COVID-19 Virus, Senate Report Claims

    Authored by Zachary Steiber via The Epoch Times (emphasis ours),

    The COVID-19 virus originated in a Chinese laboratory and was leaked unintentionally, a new U.S. Senate report concludes.

    The virus, SARS-CoV-2, leaked from the Wuhan Institute of Virology (WIV), which tests bat coronaviruses, twice in 2019, researchers conducting the report say.

    The preponderance of information supports the plausibility of an unintentional research-related incident that likely resulted from failures of biosafety containment during SARS-CoV-2 vaccine-related research,” the 301-page report, released on April 17, states.

    Sen. Roger Marshall (R-Ky.), a member of the Senate Health Committee, released the report, which was produced by a team that included Dr. Robert Kadlec, a longtime former government health official who played a key role in developing the COVID-19 vaccines, and staffers on the U.S. Senate Committee on Health, Education, Labor, and Pensions, where Marshall chairs the Subcommittee on Primary Health and Retirement Security. The final report updates an interim report released in the fall of 2022.

    Researchers started with two hypotheses, Marshall told reporters in a briefing. One was that the virus started in animals before spilling over to humans, known as a natural origin. The other was a leak from the Wuhan lab, located in the same city where the first COVID-19 cases were detected in late 2019.

    They exhausted every piece of evidence that they could find, every resource witness that they could talk to, to come up with conclusions,” Marshall said.

    Kadlec’s team of consultants spent approximately 18 months probing the COVID-19 origins and concluded that the available evidence supports a lab leak.

    More specifically, there was likely an aerosol leak that caused an infection of lab personnel or the virus may have been released to the outside environment due to biocontainment failures. One theory revolves around cleaning agents causing corrosion of welded seams in the lab, a possibility mentioned in multiple 2019 documents on upgrading the lab.

    “Patents addressed biocontainment faults with animal transfer cabinets, biosafety autoclaves, leaky airtight doors, and excessive corrosive disinfectants affecting stainless steel laboratory equipment and biocontainment structures,” the report states.

    Sen. Roger Marshall gives a briefing in Washington on April 16, 2023. (Zachary Stieber/The Epoch Times)

    Both domestic and foreign bodies have for years raised concerns about biosafety at the WIV. A 2018 U.S. State Department cable, for instance, (pdf) reported that the then-newly opened biosafety level four lab at the facility had a “serious shortage” of trained technicians to safely operate the lab.

    Researchers at the lab, before the pandemic, reported experimenting on mice, bats, and palm civets to find coronaviruses that were more capable of infecting humans, and sometimes experimented at sub-biosafety level four conditions. A more recent summary showed scientists conducted experiments that increased the function of a bat coronavirus. WIV’s refusal to reveal the full results of their experiments resulted in U.S. officials ending a subgrant after the pandemic started.

    Research-related lab biosafety issues can unfold in a number of ways, while most infections acquired in laboratories due to lapses are never conclusively determined, researchers have said previously.

    Chinese reports, communications, and notices were offered as support for the lab leak theory, including an attempt in November 2019 to procure an air incinerator at the lab. That suggested “some concern about the risk of an infectious aerosol escape,” researchers say in the new report. They also noted that WIV staffers underwent a remedial biosafety training course that same month.

    Characteristics of SARS-CoV-2 suggest the virus was manmade, including the presence of a furin cleavage site at the same location that was proposed in a grant proposal by EcoHealth Alliance, the report concludes. EcoHealth funneled U.S. taxpayer money to scientists in Wuhan.

    Read more here…

    Tyler Durden
    Wed, 04/19/2023 – 18:20

  • Biden Admin 'Mishandling' Hunter Biden Investigation Says IRS 'Criminal Supervisory Agent' In Charge Of Probe
    Biden Admin ‘Mishandling’ Hunter Biden Investigation Says IRS ‘Criminal Supervisory Agent’ In Charge Of Probe

    In what should come as a surprise to absolutely no one, an IRS supervisor has stepped forward to blow the whistle on the Biden administration for improperly handling the criminal investigation into the President’s son, Hunter Biden.

    In a Tuesday letter sent to Congress by a “career Internal Revenue Service criminal supervisory special agent,’ the whistleblower claims to have information that would contradict sworn testimony by a “senior political appointee,” as well as a “failure to mitigate clear conflicts of interest in the ultimate disposition of the case,” according to the Wall Street Journal, citing the letter.

    What’s more, the supervisor says he has evidence showing “preferential treatment and politics improperly infecting decisions and protocols that would normally be followed by career law enforcement professionals in similar circumstances if the subject were not politically connected.”

    According to the report, the supervisor has been overseeing an “ongoing and sensitive investigation of a high-profile, controversial subject since early 2020,” which insiders say is Hunter Biden.

    Hunter Biden is facing a criminal investigation related to his taxes and whether he made a false statement in connection with a gun purchase. When he said in December 2020 that his tax matters were under investigation, Hunter Biden said he was “confident that a professional and objective review of these matters will demonstrate that I handled my affairs legally and appropriately.”

    Investigators have believed for months they had enough evidence to indict the younger Mr. Biden, the Journal and other news outlets have reported. Prosecutors have also weighed whether Hunter Biden’s well-documented drug addiction would present a defense against a potential criminal tax case, the Journal previously reported. He hasn’t been charged with any wrongdoing. -WSJ

    Mark Lytle, a lawyer for the IRS agent, said in the Tuesday letter addressed to both Republican and Democratic leaders on the Senate and House Judiciary Committees, that his client is seeking whistleblower protections in exchange for his information.

    “Despite serious risks of retaliation, my client is offering to provide you with information necessary to exercise your constitutional oversight function and wishes to make the disclosures in a nonpartisan manner to the leadership of the relevant committees on both sides of the political aisle,” reads the letter, signed by Lytle, who claims that the employee previously disclosed the information internally at the IRS and to the DOJ inspector general.

    US Attorney David Weiss, the top federal prosecutor in Delaware under the Biden administration, has been leading the DOJ’s investigation of Hunter. According to AG Merrick Garland, Weiss has broad authority to pursue charges.

    “He has been advised he is not to be denied anything he needs,” Garland told the Senate Judiciary Committee on March 1. “I have not heard anything from that office to suggest that they are not able to do everything the U.S. attorney wants to do.

    https://platform.twitter.com/widgets.js

    Tyler Durden
    Wed, 04/19/2023 – 18:00

  • White House Slams Brazil After Lula Accuses US Of 'Encouraging' War In Ukraine
    White House Slams Brazil After Lula Accuses US Of ‘Encouraging’ War In Ukraine

    Authored by Kyle Anzalone via The Libertarian Institute, 

    The White House has accused Brazilian President Luiz Inacio Lula da Silva of repeating Russian and Chinese propaganda. While visiting China, Lula said that the US should stop “encouraging” the war in Ukraine and seek peace instead.

    Speaking with reporters on Tuesday, the White House’s National Security Council’s Spokesperson, John Kirby, lashed out at Lula. “Brazil has substantively and rhetorically approached this issue by suggesting that the United States and Europe are somehow not interested in peace or that we share responsibility for the war,” Kirby said. “In this case, Brazil is parroting Russian and Chinese propaganda without at all looking at the facts.”

    Via Reuters

    The spokesman went on to call Lula’s statement “simply misguided” and “deeply problematic.”

    Kirby’s statement comes as the Brazilian president scrutinized NATO’s role in the Ukraine war and sought to bring Moscow and Kiev to the negotiating table. “The United States needs to stop encouraging war and start talking about peace,” he said Saturday. “The European Union needs to start talking about peace so that we can convince Putin and Zelensky that peace is in the interest of everyone and that war is only interesting, for now, to the two of them.”

    On Sunday, Lula further disputed the Western narrative about the war in Ukraine by arguing Kiev and Moscow both bear responsibility for the conflict. Both Russia and Ukraine “had decided to go to war,” he remarked. 

    While visiting China last week, Lula proposed forming a coalition to pursue an end to the conflict in Ukraine. “I have a theory that I have already defended with Macron, with Olaf Scholz of Germany, and with Biden, and yesterday, we discussed at length with Xi Jinping.” He continued, “It is necessary to constitute a group of countries willing to find a way to make peace.”

    The Brazilian Foreign Minister Mauro Vieira met with his Russian counterpart, Sergey Lavrov, on Monday. Vieira called for an immediate ceasefire in Ukraine and criticized Western sanctions for harming the global economy. 

    Lavrov explained the Kremlin was happy with the role Brazil was willing to play in resolving the conflict. “As for the process in Ukraine, we are grateful to our Brazilian friends for their excellent understanding of this situation’s genesis.” He said, “We are grateful (to them) for striving to contribute to finding ways to settle it.”

    Tyler Durden
    Wed, 04/19/2023 – 17:40

Digest powered by RSS Digest

Today’s News 19th April 2023

  • Leaks Spell The End For Ukraine (And Expose Western Disinformation)
    Leaks Spell The End For Ukraine (And Expose Western Disinformation)

    Authored by Joe Lauria via ConsortiumNews,com,

    Leaked U.S. intelligence documents have exposed Western disinformation  about Ukraine winning the war. Now the heavy fighting moves to Washington…

    Aerial view of the Washington battleground. (Mario Roberto Durán Ortiz/Wikimedia Commons)

    Washington Post headline last week was a bombshell for someone who has only been reading about the Ukraine war in The Washington Post and other Western media: “U.S. doubts Ukraine counteroffensive will yield big gains, leaked document says.”

    The story admits that Western media audiences have been misled about the course of the war, that essentially what mainstream media has been reporting about Ukraine has been a pack of lies: namely that Ukraine is winning the war and is poised to launch an offensive that will lead to a final victory. 

    Instead, the second paragraph of the piece makes clear the leaked documents show the long-planned Ukrainian offensive will fail miserably — “a marked departure from the Biden administration’s public statements about the vitality of Ukraine’s military.”  

    In other words, U.S. officials have been lying about the state of the war to the public and to reporters who have faithfully reported their every word without a hint of skepticism.

    The Post said, as if it’s a bad thing, that the leaks will likely “embolden critics who feel the United States and NATO should do more to push for a negotiated settlement to the conflict.”

    That has begun to happen. Writing in the uber-Establishment Foreign Affairs, former State Department official Richard Haass and Charles Kupchan, a senior fellow at the Council on Foreign Relations, write that “it is difficult to feel sanguine about where the war is headed.”

    In “The West Needs a New Strategy in Ukraine: A Plan for Getting From the Battlefield to the Negotiating Table,” they say:

    “The best path forward is a sequenced two-pronged strategy aimed at first bolstering Ukraine’s military capability and then, when the fighting season winds down late this year, ushering Moscow and Kyiv from the battlefield to the negotiating table.”  

    The article does not mention the leaks, though it was published after the disclosures made clear that the Ukrainian offensive, intended to  break through Russia’s land bridge to Crimea, would fail.

    Filled with the usual talk about Ukraine having better “operational skill” than Russia, and that the war will end in a “stalemate,” the piece represents an emerging strategy in the West: namely that before negotiating, Ukraine needs to launch its offensive to gain back some territory, “imposing heavy losses on Russia, foreclosing Moscow’s military options, and increasing its willingness to contemplate a diplomatic settlement.”

    But that is a tall order. Moscow would be unlikely to negotiate at the end of the Ukrainian offensive, particularly as the article admits the “Russian military’s numerical superiority” and that Ukraine is “facing growing constraints on both its own manpower and help from abroad.” 

    Moscow was ready to cut a deal with Kiev one month after Russia’s intervention but the West, with its strategy of lengthening the war to weaken Russia, quashed it. Why would Moscow accept a deal now when Ukraine is at its weakest and Russia is poised to make significant gains on the battlefield?

    The Foreign Affairs piece admits, “This diplomatic gambit may well fail. Even if Russia and Ukraine continue to take significant losses, one or both of them may prefer to keep fighting.”

    “Come the end of this fighting season,” the article says, “the United States and Europe will also have good reason to abandon their stated policy of supporting Ukraine for ‘as long as it takes,’ as U.S. President Joe Biden has put it.”

    And what comes next? “NATO allies would start a strategic dialogue with Russia on arms control and the broader European security architecture.”  

    Incredibly this is what Russia was asking for before its February 2022 intervention and it was rebuffed by NATO and the U.S.  Now a Foreign Affairs article is recommending it.

    Is there no better sign that Ukraine has lost this war?

    Going Ahead With the Offensive Anyway

    The strategy of Ukraine going ahead with an offensive it knows will achieve little is Kiev’s last gasp — unless delusional neocons continue to outmaneuver the realists in Washington.

    Most importantly for the West, the failure of this last-gasp attempt would serve as a way for it to escape the disaster it has created for itself: namely, the backfiring of the economic war on Russia; the failure of the information war in the non-West and ultimately defeat on the battlefield in its proxy war.   

    Already in February, French President Emmanuel Macron, who is also pushing this strategy, and German Chancellor Olaf Scholz, told Ukrainian President Volodymyr Zelenksy that the game was up.  This news was brought to us by the establishment Wall Street Journal. 

    And then ten days later U.S. intelligence provided a story to The New York Times that a pro-Ukraine “group,” and possibly the Ukrainian government itself, was behind the destruction of the Nord Stream pipelines, a way of distancing the U.S. from Kiev as the exit ramp looms into sight. 

    Why Did the MSM Publish the Leaks?

    Why did the Times, the Post and other establishment outlets publish stories about these leaks if they severely undermined their own credibility? There are three possibilities.   

    The first is simply competition.  The Times or the Post may have gotten word that their rival had their hands on the leaks and did not want to be beat. There is almost nothing worse for an editor or reporter (in the petty world of journalism) then having to “match” a competitors’ story.

    The second reason has to do with keeping up appearances. These leaks were eventually to come out somewhere and may not have been easily ignored. What would it have looked like if the big papers didn’t have it first?

    More importantly, corporate journalism needs to keep up the pretense that it is actually doing journalism, i.e. that it will publish material from time to time that makes their governments look bad, and in this case, even themselves. They have to convince the public that they haven’t entirely given up on adversarial journalism if they are to survive.  

    It was the same when corporate outlets partnered with WikiLeaks in 2010 to publish leaks that exposed U.S. war crimes. But eventually the media turned on Assange and WikiLeaks, and fell into line with the state. 

    Why the Media Went After the Leaker

    And that it is indeed what has happened here. After splashy stories about the leaks, the Times and the Post, teaming with Western intelligence-backed Bellingcat, turned their attention to finding the leaker, in what Elizabeth Vos in an article today on Consortium News argues makes corporate media the anti-WikiLeaks.

    Rather than protecting the source of leaks, vital to the public, they hunted down the alleged leaker, 21-year old Air National Guardsman Jack Texiera, who was arrested by military-clad F.B.I. agents outside his Massachusetts home. 

    So what is the third reason why the major media published the leaks?

    Very likely for the same reason they published the stories about Macron and Scholz telling Zelensky he’s lost the war, and that the Ukrainian government may have been responsible for the Nord Stream sabotage:  to lay the ground work for the U.S. and its allies to pull the plug on their Ukrainian adventure by finally admitting Ukraine is losing.

    Towards that end, there is speculation that Texiera did not act alone with the motive of impressing his teenage followers on the Discord chat forum, as the press has reported. 

    Former C.I.A. analyst Larry Johnson believes Texiera was set up, possibly by a senior officer.  Johnson thinks this because among the documents Texiera allegedly leaked was one from the Central Intelligence Agency Operations Center, where Johnson used to work.

    “CIA Operations Center produces two daily reports — one in the morning and one in the afternoon. It is not a ‘Community’ product, i.e., it is not distributed to the other intelligence agencies. It is an internal CIA document (of course, it is available to the Director of National Intelligence), ” Johnson wrote on his website Son of the New American Revolution.

    Texiera was not in the C.I.A. so there is no way he’d have access to an Operations Center document, Johnson wrote. So how did he get his hands on it?

    The implication is that Texiera may have been a patsy for someone within the realist wing of the U.S. military or intelligence establishment who opposes the neocons’ obsession with continuing the war at all costs.  

    The neocons are not going down without a fight. John Bolton, the former U.S. national security advisor and chief neocon, wrote a desperate piece in The Wall Street Journal last week, titled, “A New American Grand Strategy to Counter Russia and China.”  

    Bolton gets it that the world is changing, and not in America’s favor. So his response is not to reverse failed U.S. policy, for the U.S. to become part of the rest of the world rather than trying to dominate it, but to double down like a riverboat gambler.  His solution: raise military spending to Reagan-era levels; resume underground nuclear bomb testing and taking “the North Atlantic Treaty Organization global, inviting Japan, Australia, Israel and others committed to NATO defense-spending targets to join.”

    Bolton laughingly says the U.S. must “exclude” Moscow and Beijing from the Middle East, where both capitals are orchestrating the most dramatic diplomatic transformation in decades.

    But Boltons saves his best laugh for Ukraine:

    “After Ukraine wins its war with Russia, we must aim to split the Russia-China axis. Moscow’s defeat could unseat Mr. Putin’s regime. What comes next is a government of unknowable composition. New Russian leaders may or may not look to the West rather than Beijing, and might be so weak that the Russian Federation’s fragmentation, especially east of the Urals, isn’t inconceivable.”

    Even if the ludicrous Bolton is dismissed, there’s still a major obstacle in the realists’ way: Biden’s re-election campaign. He says he’s going to announce soon. He’s already thrown his lot in with the neocons.

    Is there any conceivable way that he could accept Ukraine losing this war, after all the blue and yellow flag-waving, without also losing the election? 

    The Biden team’s aim was to bleed Russia. But it is Ukraine that is hemorrhaging. Will reality at last overcome delusion in Washington?

    Tyler Durden
    Wed, 04/19/2023 – 02:00

  • Accountability For Biden's Botched Afghan Withdrawal?
    Accountability For Biden’s Botched Afghan Withdrawal?

    Authored by Rep. Mark Green via RealClear Wire,

    Nineteen months ago, the last U.S. soldier was lifted out of Afghanistan, but hundreds of Americans were left behind in a country overrun by the Taliban and abandoned by President Biden. Yet in a recent press conference, Pentagon Spokesperson John Kirby had the audacity to state that he was proud of the withdrawal from Afghanistan. This followed the release of a report from the Biden administration that lays the blame for this withdrawal at the feet of President Trump, taking little to no responsibility. This is a sign of failed leadership. 

    President Biden seems to forget that a year and a half ago millions of Americans, our allies, and our adversaries saw the botched Afghanistan withdrawal with their own eyes. Plastered across our television sets were tragic images of Afghans giving up their infants to complete strangers in hopes of saving them from the tyrannical rule of the Taliban. Others were so desperate for freedom that they tried climbing onto American aircraft during take-off, eventually plummeting to their deaths. One Afghan was even found crushed within the wheel well of an outbound aircraft. 

    Despite the desperation of Afghan citizens to escape Taliban rule, even to the point of death, this president saw fit to leave hundreds of his own countrymen behind. This botched withdrawal won’t just be a stain on this administration for all-time, but Kabul will be remembered with Saigon as one of the worst military evacuations in American history. In turn, our adversaries from China and Russia to Iran and North Korea are emboldened. This is extremely dangerous.

    There must be accountability. Unfortunately, President Biden has been seeking to avoid accountability for himself and for this administration. In fact, in his press conference on the report, Kirby stated, “For all this talk of chaos, I just didn’t see it, not from my perch.” I wonder if Mr. Kirby would be comfortable saying that to the families of the 13 servicemembers murdered by a suicide bomber during the evacuation. 

    How do we know this report is about the Biden administration making excuses instead of taking responsibility for its failures? The 12-page summary fails to mention the abandonment of Bagram Air Base. Instead of keeping this pivotal airbase, U.S. forces deserted it in the middle of the night. This decision emboldened the Taliban, demoralized the Afghan government and military, made it harder for U.S. allies to evacuate after the fall of Kabul, and allowed the Taliban to free thousands of prisoners being held there, including senior al Qaeda operatives. 

    It is far past time to hold this administration accountable ourselves, because clearly it isn’t going to take responsibility for its own decisions. Many may wonder why this accountability hasn’t happened yet. The answer is simple; when Democrats controlled the House of Representatives, they refused. This was a dereliction of duty. Keeping the executive branch in check is one of Congress’ most important responsibilities. It shouldn’t matter if the president in office is Republican or Democrat—we should always be willing to fulfill our oversight duty as the people’s representatives. Despite this Constitutional obligation, Democrats refused to call this administration to account, even after finding out that President Biden left behind at least $7 billion in military equipment that is now turning up in various conflict zones.

    This is why Republicans made a promise to the American people when we took control of the House: we will have “a government that’s accountable.” And that’s what the Foreign Affairs Committee sought to do in its hearing titled: “During and After the Fall of Kabul: Examining the Administration’s Emergency Evacuation from Afghanistan.” The American people deserve answers, and we are working overtime to get them.

    When the last helicopters left the rooftops of Kabul, President Biden told the American people that only one-hundred American citizens remained in the country. The reality was much worse. Thanks to volunteer veteran groups who risked their lives to save their fellow countrymen, we now know that the Biden administration left over 1,000 Americans behind in Afghanistan. 

    The thought of leaving Americans behind goes against every fiber of my being. The Ranger Creed states, “I will never leave a fallen comrade to fall into the hands of the enemy and under no circumstance will I ever embarrass my country.” Because of President Biden’s failed leadership, our country did not live up to this creed, and we are still red in the face because of it.

    It is unconscionable that President Biden would leave American citizens behind and abandon our Afghan allies that had helped us through the war. For two decades, these Afghans guided our troops through dangerous territories, gave us vital intel, and aided our soldiers. For the Taliban, they are primary targets. In total, this administration abandoned tens of thousands of Afghan military personnel and interpreters that we promised to give sanctuary. What does it say to our allies around the world that we abandoned our Afghan allies to the Taliban? With the rise of nations with larger and more powerful militaries, we need our allies to trust that we will keep our word.

    There are also 13 American families who will never see their loved ones again because of this president’s ineptitude. 13 U.S. servicemembers were killed and 45 were wounded after a member of ISIS, released by the Taliban from Bagram prison, detonated a suicide bomb at the Kabul airport. Among the servicemembers killed was U.S. Army Staff Sgt. Ryan C. Knauss, a native of Corryton, Tennessee. He was just 23 years old. Tennesseans now, and forever, will keep his memory with us and honor his service to our nation. And when we fight for accountability in Washington, his face will be in front of our eyes. 

    What’s more disturbing is that this tragedy could have been prevented. Marine Sgt. Tyler Vargas-Andrews testified before the House Foreign Affairs Committee that U.S. intelligence had a description of the two terrorists planning the suicide attack.

    While on duty, Sgt. Vargas-Andrews saw the couple matching the description of the suspected bombers from his sniper tower. With a clear opportunity for engagement, he requested permission to engage. The message he got back is chilling: “Do not engage.”

    Eventually the suspect disappeared, and later that day 13 of our servicemembers and 170 Afghans were killed in a suicide bombing. Forty-five more soldiers, including Sgt. Vargas-Andrews, were maimed. This was negligence of the highest order. But John Kirby had the arrogance to stand before the American people and claim the mission a success. Maybe he should stand before the families and loved ones of the 58 American casualties and tell them how proud he is of this botched withdrawal. 

    Someone must answer for the decisions that cost a nation its freedom and 13 American servicemembers their lives—and that person is our Commander-in-Chief.  

    Despite the failures of this administration during our withdrawal from Afghanistan, I want veterans of the War on Terror to know that your service to our country was not in vain. We kept America safe for 20 years, and Americans are alive today because of your sacrifices. Thank you for everything you did for our country and God bless you.

    Mark Green is a U.S. representative for Tennessee and a former physician, business owner, and combat veteran of Afghanistan and Iraq, where he served three tours of duty. He is chairman of the House Homeland Security Committee and serves on the House Foreign Affairs Committee.

    Tyler Durden
    Wed, 04/19/2023 – 00:05

  • Money = Happiness?
    Money = Happiness?

    The question of whether money makes people happy has probably been on mankind’s mind for as long as this means of payment has existed.

    In the infographic below, Statista’s Martin Armstrong tries to get closer to an answer.

    The underlying figures are, on the one side, the points achieved by the countries in the World Happiness Index (X-axis of the chart) and on the other, their respective gross domestic product per capita (Y-axis).

    Infographic: Money = Happy? | Statista

    You will find more infographics at Statista

    As indicated by the distribution of countries based on the green dots and the corresponding red trend line, there is a correlation between the variables: The higher a country’s GDP per capita, the more points it tends to score on the World Happiness Index.

    The correlation comes to a value of 0.69 – representing a strong association.

    There are however deviations and outliers. For example, Hong Kong’s (HK) GDP per capita of $49,700 is relatively high, but its Happiness Index score of 5.31 is relatively low – many countries with similar Happiness Index scores have GDP per capita below $10,000.

    Tyler Durden
    Tue, 04/18/2023 – 23:45

  • The Great COVID-19 Vaccine Bribe
    The Great COVID-19 Vaccine Bribe

    Authored by John Leake and Dr. Peter A. McCullough, MD via Courageous Discourse (emphasis ours),

    Many readers of this Substack have doubtless wondered why their “health care providers”—i.e., doctors, repeatedly exhorted them to get the COVID-19 vaccines and boosters. In my extended social circle, I heard many reports of doctors being downright pushy about it—as though getting the COVID-19 vaccine was the single most pressing matter of medicine and health.

    (Steve Heap/Shutterstock)

    Even patients who’d recently recovered from COVID-19 were urged by their doctors to get the shots, as were patients who had bad reactions to the first injection.

    For a long time, Dr. McCullough and I wondered if these doctors really were that brainwashed, or was there some other explanation for their zeal?

    A few days ago, fellow Substack author, Tessa Lena (Tessa Fights Robots) published this document that was apparently circulated to doctors with patients insured by Anthem Blue Cross and Blue Shield Medicaid in the state of Kentucky.

    The document raises a number of intriguing questions. I wonder: How many members might be registered in a given practice—that is, how many of those $125 bonuses per vaccinated member could a busy and efficient doctor with a good support staff receive?

    Secondly, how many of these “COVID-19 Vaccine Provider Incentive Programs” were operating in the United States during 2021?

    As we awakened souls try to figure out what’s going on in our bizarre world, it’s always useful to follow the money. It almost always leads to the explanation for any strange state of affairs that puzzles us.

    Tyler Durden
    Tue, 04/18/2023 – 23:25

  • Taiwan To Buy 400 US Anti-Ship Missiles, Announced As China Conducts "Major" Military Drills
    Taiwan To Buy 400 US Anti-Ship Missiles, Announced As China Conducts “Major” Military Drills

    Taiwan is set to purchase up to 400 land-launched Harpoon missiles in order to repel a future Chinese invasion, according to the president of the US-Taiwan Business Council Rupert Hammond-Chambers, speaking to Bloomberg.

    While Harpoons have previously been purchased by Taiwan for deployment on warships, this marks a first time acquisition of the mobile, land-launched version.

    Via Naval News: Land-based Harpoon missile launched from a truck trailer. 

    Per Bloomberg, “The Pentagon announced the $1.7 billion contract with Boeing on April 7 but made no mention of Taiwan as the purchaser” at a moment of tense US-China relations due to ratcheting Chinese military drills around the self-ruled island. 

    As the Monday report additionally reviews

    The Harpoon contract has been cited by members of Congress including Representative Michael McCaul, chairman of the House Foreign Affairs Committee, as part of as much $19 billion in “backlogged US sales to Taiwan that they say need to accelerated. In addition to the Harpoon, the list includes the F-16 Block 70 fighter, the MK-48 torpedo, the M109A6 Paladin self-propelled howitzer and the Stinger missile.

    Additionally the US-Taiwan Business Council has now confirmed the Harpoon is to be transferred. 

    Meanwhile China’s military announced on the same day it is conducting “major military activity” in the Yellow Sea in waters off the coast of Shandong province.

    While these drills were only scheduled for a few hours, they follow a series of major days-long encircling drills threatening Taiwan, which have been going off-and-on since earlier this month Taiwan’s President Tsai Ing-wen met with US House Speaker Kevin McCarthy at the Ronald Reagan Presidential Library in California’s Simi Valley, a meeting which Beijing warned strongly against.

    Tyler Durden
    Tue, 04/18/2023 – 23:05

  • NRA Official Says Concealed Carry License Holders Must Plan For Police Interactions
    NRA Official Says Concealed Carry License Holders Must Plan For Police Interactions

    Authored by Michael Clements via The Epoch Times (emphasis ours),

    The time for a holder of a concealed carry firearm permit to determine how to interact with the police during a traffic stop or other situation is before law enforcement ever becomes involved, according to an official with the National Rifle Association.

    “You’ve got to think ahead; you’ve got to prepare,” Glen Hoyer told seminar attendees during the NRA’s Annual Meetings and Exhibits in Indianapolis on April 16.

    Glen Hoyer, director of the National Rifle Associations Law Enforcement Division presents the “Armed Citizen: How to Interact with Law Enforcement” seminar at the NRA’s 2023 Annual Meetings and Exhibits in Indianapolis, Ind. (Michael Clements/The Epoch Times)

    At the NRA’s annual meeting, he leads the seminar, “Armed Citizen: How to Interact with Law Enforcement.” The seminar aims to provide law-abiding firearms owners with information they need to make the process run as smoothly as possible.

    He said the first step is for the gun owner to understand the mind of the police officer—who has one goal in mind.

    “The officer’s No. 1 job, at the end of the day, is to go home to his family,” Hoyer said.

    A Riverside County Sheriff’s deputy wipes his eye as he stands in Jurupa Valley, Calif. on Dec. 29, 2022. Authorities say a Southern California sheriff’s deputy has been shot during a traffic stop. (Will Lester/The Orange County Register via AP)

    With that in mind, the officer will arrive ready to do what he or she needs to preserve everyone’s safety. It’s also important to realize that upon arrival, the officer will have limited information. So, he will do what he is trained to secure the scene, preserve evidence, and gather information, he said.

    When firearms are involved in a possible crime, Hoyer said, people will be searched, handcuffed, and placed in a police car. This means the officer will use whatever force is necessary and legal.

    There is nothing personal; they are simply trying to secure the scene,” Hoyer said. “It’s a whole lot easier to apologize later.”

    At the same time, it’s essential to know your rights and responsibilities under the law. Some states require a concealed carry license holder to immediately notify a police officer that they have a gun. Some only require answering truthfully if the officer asks, and some states don’t require notification.

    “Know the law in your area,” Hoyer said.

    Drugs, firearms, and ammunition recovered during recent search warrants. (Courtesy of Middletown Police Department)

    In addition, he said it is essential to know your legal rights and to exercise those rights properly.

    For example, under the Fourth Amendment of the U.S. Constitution, a citizen can refuse to allow a law enforcement officer with no warrant to search their person or property. However, arguing, taunting, or belittling an officer will only heighten tension. Politely declining could have long-term benefits.

    Read more here…

    Tyler Durden
    Tue, 04/18/2023 – 22:45

  • US Navy Tests Iron Man-Like Jetpacks
    US Navy Tests Iron Man-Like Jetpacks

    Gravity Industries showcased their Iron Man-like jetpacks at a field training exercise earlier this month in Virginia Beach, Virginia.

    Gravity worked with the Joint Prototyping and Experimentation Maritime program at Naval Surface Warfare Center to conduct multiple mock exercises with the jetpacks, including rapid transit from shore-to-sea and sea-to-shore missions. 

    Each jetpack is powered by five micro jet turbines that generate about 1,000 horsepower.

    In the video, two pilots maneuvered from ship to shore and shore to ship to demonstrate the impressive capabilities the jetpacks can one day give Tier 1 operators. 

    The suit can run on jet fuel, diesel, or kerosene. Users can travel as fast as 80 mph and reach an altitude of 12,000 feet. However, both pilots in the video performed maneuvers at lower heights for safety purposes.  

    In the near future, jetpacks will likely be deployed with special forces units on the modern battlefield. The Brits are already flying theirs around

    Tyler Durden
    Tue, 04/18/2023 – 22:25

  • California's 'Dream For All' Home Down Payment Program Ran Out Of Money In 12 Days
    California’s ‘Dream For All’ Home Down Payment Program Ran Out Of Money In 12 Days

    Authored by Travis Gillmore via The Epoch Times (emphasis ours),

    Demand for California’s new downpayment assistance program overwhelmed the system and depleted its $300 million budget in less than 12 days, with applications put on pause effective April 7, according to the housing finance agency.

    An ‘open house’ flag is displayed outside a single family home in Los Angeles on Sept. 22, 2022. (Allison Dinner/Getty Images)

    The legislator responsible for proposing the program responded optimistically to the news.

    It is incredible and inspiring to see that the launch of the California Dream for All program has already been so successful,” Senate President Pro Tempore Toni Atkins (D-San Diego) said in a statement April 14. “The fact that it has helped more than 2,400 first-time homebuyers with their down payments in its first two weeks is terrific.

    Designed to provide up to 20 percent of funding for low-income first-time home buyers, the “Dream for All” program was initiated with the passage of Assembly Bill 140 in 2021.

    Resources are provided through the Dream for All Shared Appreciation Loan, in which the state provides a portion of the down payment in exchange for a share in the property.

    The loan, in addition to a portion of the appreciated value of the home, will be repaid when the property is resold, according to the legislation.

    A sign is posted in front of new homes for sale at Hamilton Cottages in Novato, Calif., on Sept. 24, 2020. (Justin Sullivan/Getty Images)

    The lowest eligible income for the program is $159,000 for several counties throughout the state, with San Franciscans and Silicon Valley residents in Santa Clara and San Mateo residents eligible if they make $300,000, the highest. Los Angeles’s limit is $180,000, and Orange County has the highest income limit in Southern California, at $230,000.

    The original text written in 2021 proposed funding the project with $1 billion annually for 10 years. The proposal suggested the $10 billion invested would assist more than 150,000 Californians.

    After legislative wrangling, the proposed amount later dropped to $500 million in 2022 and with the state facing a $25 billion budget deficit for the next fiscal year starting in July, Newsom decreased the allocation to $300 million for its introduction in 2023.

    The funding gap leaves the program stalled awaiting further resources, according to legislators.

    “While we are off to a strong start, we can’t truly make a difference in opening the doors to building generational wealth for Californians—especially those who historically have faced systemic barriers to homeownership—without sustained funding for the program,” Atkins said in the statement.

    Read more here…

    Tyler Durden
    Tue, 04/18/2023 – 22:05

  • DoD Could Derail Biden's Offshore Wind Farm Dreams
    DoD Could Derail Biden’s Offshore Wind Farm Dreams

    Bloomberg report reveals that the Defense Department is increasingly worried about President Biden’s proposals to build massive wind farms across the mid-Atlantic region, as some of these areas are considered “highly problematic” for potential interference with military operations. 

    The DoD shared the map with energy industry stakeholders and lawmakers late last year. It outlines four large sections of water off the coasts of North Carolina, Virginia, Maryland, and Delaware, earmarked for potential wind farms. Areas in red are labeled “highly problematic.” Areas in yellow indicate that military officials need to conduct more research. 

    “The initial assessment performed by DoD found compatibility challenges with wind turbines near Navy and Air Force training,” DoD spokesperson Kelly Flynn said in an emailed statement to Gizmodo. About 25% of the total planned offshore wind farms are impacted by the department’s graphic. 

    “This assessment is the first step in the process and DoD will continue to refine the analysis and collaborate with the other stakeholders in order to promote compatible development in this location,” Flynn added.

    The DoD’s opposition to the green project comes as the Biden administration wants to build 30 gigawatts of offshore wind power this decade — equivalent to 30 nuclear reactors.

    Surprisingly, it appears the Biden administration didn’t consult with the military during the planning stage of these wind farms. 

     

    Tyler Durden
    Tue, 04/18/2023 – 21:45

  • Budweiser's New Pro-America Advertisement Sets Social Media Ablaze Amid Mulvaney Controversy
    Budweiser’s New Pro-America Advertisement Sets Social Media Ablaze Amid Mulvaney Controversy

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    In what appears to be an attempt to win back the audience that was angered over Bud Light after its endorsement deal with transgender activist Dylan Mulvaney, Anheuser-Busch launched a new patriotic advertisement with its most iconic image.

    Bottles of Budweiser beer are at the Stag Brewery in London on Jan. 27, 2009. (Kirsty Wigglesworth/AP Photo)

    The advertisement, released Friday on social media, shows a Clydesdale horse—used for decades by Anheuser-Busch and Budweiser—walking past the Grand Canyon, New York City, and other landmarks. The clip didn’t make mention of Mulvaney or issue an apology.

    This is a story bigger than beer,” the narrator in the video says. “This is the story of the American spirit.”

    The advertisement also shows an American flag being raised. And one of the flag-raisers is seen putting a hand over her heart as the narrator says the beer is “brewed for those who found opportunity in challenge and hope in tomorrow.”

    AB InBev, which owns Anheuser-Busch, is the world’s largest brewer and owns Budweiser, Bud Light, Michelob, Stella Artois, Beck’s, and a number of other brands. It owns about 630 beer brands in 150 countries.

    In the midst of the controversy, country music singer John Rich, singer Travis Tritt, rocker Kid Rock, and others called for boycotts against Bud Light. A number of analysts and industry experts also questioned why Bud Light chose Mulvaney as a partner, saying the move would be repellent to the beer’s consumer base.

    Some Bud Light and Anheuser-Busch distributors around the country have expressed alarm over the deal, with one report saying that a number of bars have refused to serve Bud Light. Country singer and Nashville bar owner John Rich, meanwhile, told Fox News earlier this week that his bar won’t sell the beer.

    https://platform.twitter.com/widgets.js

    Tyler Durden
    Tue, 04/18/2023 – 21:25

  • Subprime Used Car Dealership With Dozens Of Locations 'Temporarily Closes'
    Subprime Used Car Dealership With Dozens Of Locations ‘Temporarily Closes’

    “We have temporarily closed our dealerships and are working on a solution to re-open them as soon as possible. But don’t worry. We aren’t going anywhere! US Auto’s affiliated loan servicing company (USASF Servicing LLC) is still open to accept your payments and assist in servicing your account. Please continue to make your payments as scheduled and reach out to us with any account questions,” a statement posted on the homepage of subprime car dealership US Auto Sales. 

    The Georgia-based dealership with more than two dozen locations in the Southeastern US is working to re-open operations. 

    US Auto Sales boasts on its website “no credit” is needed to obtain a vehicle. 

    Vehicle financing has become the most challenging in more than a decade. According to Bankrate data, the average rate for a used car has reached 7.39%, the highest level since 2009. High borrowing costs and sky-high used car prices have sparked an affordability crisis. 

    “US Auto Sales has regularly turned to bond markets to raise money from investors, packaging subprime auto loans into bonds known as securitizations for sale to institutional investors. It most recently sold a $233 million bond in June of last year,” Bloomberg said. 

    Meanwhile, Capital One Financial Corp. recently exited its lending business for car dealerships due to mounting macroeconomic headwinds. 

    Troubles for US Auto Sales come as the subprime auto loan market is sliding into turmoil as delinquencies hit a 13-year high. 

    Several months ago, we told readers a “perfect storm” was brewing in the auto market, outlining “More Americans Can’t Afford Their Car Payments Than During The Peak Of Financial Crisis“… 

    Tyler Durden
    Tue, 04/18/2023 – 21:05

  • "This Is Industrial Suicide": Biden’s EV Plan Could Be Key To China’s Global Economic Dominance
    “This Is Industrial Suicide”: Biden’s EV Plan Could Be Key To China’s Global Economic Dominance

    Authored by Nathan Worcester via The Epoch Times (emphasis ours),

    The Environmental Protection Agency’s (EPA) “strongest-ever” vehicle emissions standards designed to drive mass adoption of electric cars within a decade will increase the United States’ dependence on China, experts warn.

    “It benefits the Chinese Communist Party because they control the critical minerals supply chain that is going to be necessary to build out the batteries for those electric vehicles,” said Mandy Gunasekara, director of the Center for Energy and Conservation at Independent Women’s Forum, a conservative think tank, in an April 17 interview with The Epoch Times.

    Gunasekara served as chief of staff in the EPA under former President Donald Trump. She argued that the Trump administration did a better job of integrating environmental, economic, and strategic considerations than the Biden team, including when it came to the critical minerals used in electric vehicles (EVs) and other technologies.

    There was a concerted effort to ensure we weren’t setting regulations that shut down industrial activity here in the United States, knowing good and well that productivity doesn’t go away—it just materializes somewhere else, and typically a place like China,” she said.

    The agency anticipates that with the new standards, two-thirds of new light-body vehicles will be electric by the model year 2032, up from less than six percent today.

    The proposed rules, which would go into effect with cars from model year 2027 onward, target tailpipe emissions from light-, medium-, and heavy-body vehicles.

    The EPA claims the standards would “significantly reduce climate and other harmful air pollution, unlocking significant benefits for public health, especially in communities that have borne the greatest burden of poor air quality.”

    A rare-earth refinery near the inner Mongolian city of Baotou on the edge of the Gobi Desert. Most of China’s rare earths come from mineral-rich Baotou. (Ed Jones/AFP via Getty Images)

    ‘Industrial Suicide’

    This is industrial suicide,” said James Kennedy, a U.S. mine owner and rare earths expert, in an April 17 interview with The Epoch Times.

    “By design, their goal is to wipe out, to destroy, to effectively terminate the massive economic investment that the auto companies have made in the internal combustion engine,” he said.

    He outlined China’s long-range, strategic plan to dominate the mining and refining of rare earths, as well as the production of downstream technologies.

    “No one in the West will accept the reality that China has total domain control at every level,” he added.

    The rare earth metals terbium, holmium, and dysprosium are one key choke point for Chinese control over EV production.

    Kennedy explained that the elements enable neodymium magnets to function at the high temperatures found in the motors of electric cars.

    China is the only country in the world, period, exclamation point, that can separate those materials,” he said.

    Read more here…

    Tyler Durden
    Tue, 04/18/2023 – 20:45

  • Pentagon Seeks To Justify Syria Occupation Through More Raids On ISIS
    Pentagon Seeks To Justify Syria Occupation Through More Raids On ISIS

    US Central Command announced Monday that US commandos conducted a successful early morning helicopter raid on an ISIS hideout in northern Syria, resulting in the death of a suspected senior Syrian ISIS leader.

    CENTCOM said the target, Abd-al-Hadi Mahmud al-Haji Ali, has been confirmed killed, in an operation that was launched based on intelligence saying ISIS was plotting to kidnap officials abroad. But US officials didn’t name any target countries where such plots might be executed.

    Illustrative: US Army image

    “We know ISIS retains the desire to strike beyond the Middle East,” CENTCOM spokesman Col. Joe Buccino asserted in a statement. “This raid deals a significant blow to ISIS operations in the region but does not eliminate ISIS’ capability to conduct operations.”

    “Two other armed individuals were killed on the target,” the statement continued, and claimed that no civilians were killed or injured in the raid. Additionally, CENTCOM Commander Gen. Erik Kurilla described: “Though degraded, ISIS remains able to conduct operations within the region with a desire to strike beyond the Middle East,” and vowed to “continue the relentless campaign against ISIS.”

    Lately there have been bipartisan efforts to force President Biden to pull all American troops out of Syria. So far these Congressional moves have failed, but it has increased the pressure on the administration and the Pentagon to seek to justify the years-long occupation. 

    The “answer” has been to attempt to show the American public that ISIS remains a threat that “requires” the Pentagon’s ongoing presence. But the reality is that the US is occupying the country’s oil and gas producing region, effectively blocking the Assad government and population from accessing its own vital resources, also at a moment of Washington’s far-reaching sanctions which has increased the suffering of common people. 

    But it’s also true that ISIS continues to strike, as international reports highlighted over the weekend:

    A truffle hunter was killed Sunday by a suspected ISIS fighter in the Syrian desert.

    The civilian was in the Hama province, east of the city of Hama when an unknown gunman shot and killed him, the Syrian Observatory for Human Rights reports. The killing is the latest example of the dangers of hunting for the edible underground desert fungus.

    Twelve more civilians were also attacked in the area. They were said to be members of the Al-Bosraya tribe, according to SOHR. Four escaped while the other eight have not been unaccounted for. Hunters were also fired upon, again by suspected ISIS members, on Saturday.

    Truffle trapping is a common practice in Syria where truffles command a high price on the market. They can be sold for up to $35 per kilogram, The New York Times reports. Hunters may earn more than $400 per day by selling what they find.

    There have been other reports of a spate of killings related to impoverished Syrians collecting truffles, likely by ISIS:

    https://platform.twitter.com/widgets.js

    The Syrian Army and its Russian and Iranian partner forces have also been directly waging war on remnant ISIS terrorists. All three countries have actually at various times accused the US of allowing ISIS and other Islamist terrorists cells to fester, in order to falsely justify the ongoing occupation of a sovereign country.

    Tyler Durden
    Tue, 04/18/2023 – 20:25

  • Gun-Free Zones, Red Flag Laws Only Make Gun Crime Worse: Economist
    Gun-Free Zones, Red Flag Laws Only Make Gun Crime Worse: Economist

    Authored by Michael Clements via The Epoch Times (emphasis ours),

    Two of the most popular gun control proposals have little to no effect on gun crime and actually exacerbate the problem for the people they’re supposed to protect, according to economist, researcher, and author John Lott.

    “Those are the people who are harmed,” Lott told seminar participants at the National Rifle Association’s Annual Meetings and Exhibits in Indianapolis.

    Police tape at Geneva Presbyterian Church after a shooting left one dead and five injured in Laguna Woods, Calif., on May 15, 2022. (John Fredricks/The Epoch Times)

    Lott is considered an authority on guns and crime, having authored more than 100 peer-reviewed articles and 10 books on the subject. He led two seminars discussing the effectiveness of gun-free zones, red-flag laws, and other gun control measures.

    He said the story of Nikki Goeser encapsulates the shortcomings of these laws.

    Goeser is the author of “Stalked and Defenseless: How Gun Control Helped My Stalker Murder My Husband in Front of Me.” She’s also the executive director of the Crime Prevention Research Center (CPRC), of which Lott is the president.

    People walk past a “Gun Free Zone” sign posted on 40th Street and 7th Avenue in New York on Aug. 31, 2022. (Michael M. Santiago/Getty Images)

    Goeser was scheduled to speak at the event but couldn’t attend because of family obligations.

    Fourteen years ago, Goeser and her late husband, Ben, operated a karaoke business. A man the couple had met became infatuated with her and began stalking her.

    While Goeser had a license to carry a concealed pistol, at the time, it was illegal in her home state of Tennessee to carry a firearm in any business that served alcohol.

    One night, while running their karaoke business, Goeser’s stalker showed up and shot her husband seven times in front of her. Goeser’s situation was known to the police, but the stalker had been undeterred.

    Lott said Goeser has stated that she isn’t sure she could have stopped the crime if she had had her pistol. But she’s confident that complying with the law ensured that she couldn’t protect her husband or herself.

    As the title of her book says, she was denied the chance,” he said.

    Buffalo supermarket shooting suspect Payton Gendron in a jail booking photograph. (Erie County District Attorney’s Office via AP)

    Lott told the gathering that Goeser’s story is a perfect example of the problems with gun-free zones.

    According to statistics from the CPRC, 94 percent of mass shootings since 1950 have occurred in gun-free zones.

    Lott said one well-known mass killer explained his reasoning in a manifesto written the year before he struck.

    The 19-year-old man who killed 10 people in a Buffalo, New York, grocery store on May 14, 2022, has been described as a right-wing racist, Lott said. But, while he was an avowed racist, Lott said the shooter described himself as an environmentalist and eco-terrorist.

    In his manifesto, the shooter claimed that minorities were damaging the environment by having too many children, and that’s why he decided to attack black people.

    “Attacking in a weapon-restricted area may decrease the chance of civilian backlash,” Lott quoted from the shooter’s writings. “… ‘areas where CCW [concealed weapons] are outlawed or prohibited may be good areas of attack,’ and ‘areas with strict gun laws are also great places of attack.’”

    Read more here…

    Tyler Durden
    Tue, 04/18/2023 – 20:05

  • Manhattan Parking Garage Collapses, Kills One
    Manhattan Parking Garage Collapses, Kills One

    Late Tuesday afternoon, shortly after markets closed, a parking garage in Lower Manhattan collapsed, resulting in the death of one person and five others injured, reported FDNY. 

    Footage posted on Twitter shows the twisted wreckage of steel and concrete resulting from the collapse of the second floor of the four-story parking garage at 57 Ann Street. Although the building remains standing, the entire structure is at risk of crumbling.

    There is video footage from inside the building during the collapse.

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    According to the FDNY, six workers were in the building during the collapse, and all have been located. Of the six, one individual was killed, four were hospitalized and are in stable condition, and the other worker refused medical attention. 

     FDNY’s robo-dog surveyed the incident area. 

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    The cause of the building collapse was not yet known. 

    Tyler Durden
    Tue, 04/18/2023 – 19:45

  • Why "Net Zero" Is Not A Rational U.S. Energy Policy
    Why “Net Zero” Is Not A Rational U.S. Energy Policy

    Authored by Jonathan Lesser via RealClear Wire,

    Despite Germany’s last-ditch attempt at realism, the European Union recently approved a 2035 ban on gas-powered cars, moving ahead with its “net zero” emissions agenda. In the U.S., the cost of achieving net-zero carbon emissions would be staggering – $50 trillion if the goal is reached by 2050 – as would the demand for raw materials, which in most cases would exceed current annual worldwide production. 

    The impact on world climate, however, would be negligible. Emissions in developing countries will continue to increase as those countries’ focus is economic growth for their citizens, not permanent economic misery to “save” the climate. Although a recent Washington Post article suggests that wealth be viewed in terms of “joy, beauty, friendship, community, [and] closeness to flourishing nature,” impoverished individuals who cook with animal dung – such as 80% of the population in the African nation of Burkina-Fasso – aren’t likely to find much joy and beauty in economic misery. Granted, having to cook with animal dung ensures “closeness to nature,” although probably not the one the article’s author envisions.

    Rather than approaching energy policy clearly, the U.S. (and most of the western world) is pursuing so-called “net zero” energy policies aiming to fully electrify western economies, while relying almost entirely on wind and solar power. The additional required electricity – after all, the wind doesn’t always blow, and the sun sets nightly – would supposedly be supplied by energy storage batteries or hydrogen-powered generators. Two factors drive these policies. 

    First, there is climate hysteria, which promotes claims that have either proven to be false (the “end of snow” in Great Britain, the disappearance of glaciers in Glacier National Park) or posit extreme scenarios (complete agricultural collapse, massive sea level increases, more frequent hurricanes). The actual evidence is to the contrary, including increased agricultural yields, minimal sea level rise, and no increases in observed hurricane frequency. 

    Second, these policies are driven by old-fashioned greed. Green energy subsidies, which were already large, have been hugely expanded under the Biden Administration’s Inflation Reduction Act (IRA). The IRA is a virtual smorgasbord of green energy subsidies for offshore wind, solar power, electric vehicles, and charging infrastructure. The green energy pork, which relies on climate alarmism for its justification, is increasing electricity costs and reducing standards of living, such as in Europe, where deindustrialization is taking place because of unaffordable energy costs. Even progressive California admits its zero-emissions goals primarily will benefit the wealthy at the expense of the poor.

    Although the author of the Washington Post article may think differently, modern society requires ample supplies of reliable and affordable energy. A modern society that runs solely on electricity must have a foundation built upon three key pillars.  First, it must provide lots of electricity, far more than is generated today, because U.S. electricity consumption accounts for only about one-fifth of total energy consumption. Second, all of that electricity must be available 24-7. Third, it must be affordable. Those pillars cannot be supported by reliance on intermittent wind and solar power and huge banks of batteries to store electricity when the wind doesn’t blow and the sun doesn’t shine. Nor will those pillars be based on technologies that don’t even exist, such as generators that run on pure hydrogen. 

    Even if one believes that addressing climate change is crucial and that low- or zero-emissions technology will yield worldwide benefits, the current approach is the most expensive way to achieve it. 

    Despite the hyperventilation of some politicians, such as Senator Sheldon Whitehouse’s predictions of doom, climate change need not entail economic suicide. A far better approach is adaptation to and mitigation of potential future damages that may be caused by a changing climate, such as gradual sea level rise and slightly warmer temperatures.

    It is doubtful the U.S. will adopt this approach in the near future, because political expediency nearly always beats rational economics. But as economist Herb Stein said long ago, something that cannot go on forever, won’t. The unrealistic energy policies in place today eventually will collapse under their own weight. The resulting costs to U.S. consumers and businesses will be staggering.

    Tyler Durden
    Tue, 04/18/2023 – 19:25

  • Q1 Earnings Season Starts Off With A Bang… And The Best Beat Rate In Over 10 Years
    Q1 Earnings Season Starts Off With A Bang… And The Best Beat Rate In Over 10 Years

    Week after week, starting in December 2022 Morgan Stanley’s Mike Wilson was swearing up and down to anyone who listened that only he sees just how bad this earnings season will be, and only he has a clue how unprepared investors are for the coming carnage. Eventually, his fire and brimstone sermon became so grating and contagious that other banks – such as Goldman – jumped on the bearish board, and eventually consensus S&P expectations did in fact drop, if nowhere near low enough to catch down to Mike Wilson’s expectations. But the bottom line from a growing number of analysts and experts was clear: earnings would be terrible and possibly worse.

    And then something remarkable happened: earnings in the first quarter, the quarter when according to Mike Wilson would see everything crash down (actually he said that about Q4 22 but when it didn’t happen he just pushed forward his forecast one quarter up), are coming in much stronger than the morose consensus expects.

    As Bank of America’s Savita Subramanian writes in her first weekly Earnings Tracker for Q1 (available to pro subs in the usual place), following Week 1 in which 30 S&P 500 companies (including early reporters) comprising 10% of earnings reported…

    … results have been blowout: 90% of companies beat on EPS, 73% on sales, and 67% on both, well above last quarter’s 54%/83%/46% post-Week 1 and historical average of 67%/64%/48%. Fueled by big bank beats, Q1 EPS is tracking a 30bp surprise.

    Putting this in context, according to Savita this is the “best beat rate after Week 1 since at least 2012(at least for now).

    To be sure, there is a reason for this blowout start to Q1 earnings season, and it has to do with the big banks, which as we said have emerged as massive beneficiaries from the bank run that crippled that small and regional banking sector in March. Here is Savita:

    Big banks’ solid results (JPM, C, WFC beat on revenue and EPS) despite March’s bank scare helped performance. JPM saw increased deposits vs. peers declining 3% in 1Q23 but warned on outflows from here. Other non-banks benefited from March’s regional outflows – e.g. mega-cap Blackrock saw $40B+ inflows into cash-management products. Banks may be tightening credit standards, but larger ones are operating with excess capital vs. prior crises. JPM/WFC bought back stock in 1Q and expect to continue in 2023, an increasingly scarce positive amid potentially slowing buybacks in general.

    Still, despite reporting on what may end up being the best earnings season relative to dramatically slashed expectations in over a decade, Bank of America – which like Mike Wilson – is very bearish on the outlook, suggests that – what else – the earnings drop may not have started but it will come… eventually… the same argument Mike Wilson trots out every Monday when he has to explain to his client how he kept them out of the 3800 to 4200 rally in the past 5 months.

    A massive, systemic financial confidence shock appears to have been averted, but tighter credit is manifesting in the real economy: Fastenal, an industrial bellwether, cited softer March sales especially in manufacturing, and consumption slowed in March across income cohorts. Capex, usually hit hard by a credit cycle, has remained robust and could buck trend given multiple secular tailwinds.

    Tech capex and stock buybacks may be more at risk, where Tech, Communication Services, and Health Care have been the biggest beneficiaries.

    That said, Bank of America is ready to capitulate on its bearish outlook should the strength in earnings persists, and as Subramanian writes, “our 2023 EPS forecast ($200 vs. $220 consensus) could be too low if March’s events prove to be idiosyncratic and temporary.” Furthermore, the recent decline in rates has catalyzed some early cycle leadership like housing, where demand is recovering. But even if 1Q YoY growth flat-lined through year-end, 2023 EPS would be just ~$203.” Or as Savita rhetorically asks, “Does 2023 matter if 2024 EPS recovers quickly to 2022 levels, as history would suggest?

    Longer-term, BofA notes that automation capex bodes well for productivity (earnings positive) and mega-caps’ newfound discipline around supply, cash return and capacity rationalization argue for more earnings stability (market multiple positive).

    Still, remaining true to its bearish view for now (as it has no choice for now), the bank predicts that earnings are likely to outpace the economy in 2024, as the earnings downturn began earlier than the economic downturn this cycle. Earnings also recover stronger than they fall…

    … as downturns usually remove excess capacity, resulting in leaner cost structure and improved margin profiles. “But consensus 2024 EPS of $247 (+12% YoY) looks ambitious to us, especially if full-year GDP remains largely flat YoY (BofA house view).”

    Ironically, earnings don’t even have to be all that strong going forward: as long as they are consistently higher than consensus expectations, and as long as there is a near-record short and bearish sentiment overhang, the meltup will continue.

    More in the full BofA note available to pro users in the usual place.

    Tyler Durden
    Tue, 04/18/2023 – 19:05

  • Then There Were Nine: Comer Alleges A Wider Range Of Potential Biden Beneficiaries from Possible Influence Peddling
    Then There Were Nine: Comer Alleges A Wider Range Of Potential Biden Beneficiaries from Possible Influence Peddling

    Authored by Jonathan Turley via jonathanturley.org,

    House Oversight Committee Chairman James Comer  has revealed that there are not three but nine members of the Biden family that may have benefitted from suspected influence peddling efforts. For those of us who have long criticized the corrupt practices of the Biden family, the identity of these other family members is intriguing after the Committee secured new bank and financial records. Democratic members again insisted that there is no need to investigate such influence peddling.

    The new information on the Biden family is due largely to the takeover of the House by the GOP. Previously, Democrats blocked efforts to investigate influence peddling by the Biden family for years.

    After assuming control of the Committee. Comer sought suspicious activity reports sent by banks to the Treasury Department alerting of potential criminal activity in transactions involving President Biden’s family.

    He stated on Monday that “We’ve identified six additional members of Joe Biden’s family who may have benefited from the Biden family’s businesses that we are investigating, bringing the total number of those involved or benefiting to nine.” Those are six names beyond the previously discovered payments to linked to at least three Biden family members and two associates from China in 2017.  That $3 million was wired Biden family associate Rob Walker in March 2017, who then allegedly divided and distributed the funds later.

    There remains an “Unknown Biden” who received four payments in 2017 totaling $70,000.

    The investigation into the Bidens has made many in the Beltway uncomfortable. Influence peddling has long been the favored form of corruption in this city, but few families seemed to have cashed into the extent of the Bidens.

    I frankly do not understand the willingness of so many Democrats to cover for the Bidens. Democratic members have gone all in with censorship, but this is an effort to scuttle investigations into corruption that may have resulted in millions of dollars going to Biden family members.

    The Biden family has long been associated with influence peddling to the degree that they could add an access key to their family crest. Influence peddling has long been a cottage industry in Washington. For decades, I have written about this loophole in bribery laws. It is illegal to give a member of Congress or a president even $100 to gain influence. However, you can literally give millions to their spouses or children in the forms of windfall contracts or cozy jobs.

    James Biden has been remarkably (even refreshingly) open about marketing his access to his brother. Former Americore executive Tom Pritchard and others allege the Biden openly referenced his access to his brother and his family name in his pitch for clients. James has faced a wide array of litigation over allegedly fraudulent activities as well as a personal loan acquired through Americore before it went into bankruptcy.

    Hunter worked with his uncle but also branched off on his own in the family business. While his father recently emphasized that his son was a hopeless addict, that defense stands in glaring contradiction to the fact that he maintained a multimillion-dollar influence-peddling scheme. The question is why foreign figures (including some associated with foreign intelligence) rushed to him international money transfers and complex deals worth millions from Moscow to Kyiv to Beijing.

    However, the Biden most concerned may be the president himself. Joe Biden has repeatedly denied knowledge of Hunter Biden’s business entanglements despite numerous emails and pictures showing him meeting with Hunter associates. That includes at least 19 visits to the White House by Hunter’s partner, Eric Schwerin, alone between 2009 and 2015.

    While emails on Hunter Biden’s laptop make repeated reference to his father as a possible recipient of funds derived from influence peddling. Indeed, in one email, Tony Bobulinski, then a business partner of Hunter, was instructed by Biden associate James Gilliar that the Bidens wanted to avoid such references: “Don’t mention Joe being involved, it’s only when u [sic] are face to face, I know u [sic] know that but they are paranoid.”

    In discussing these deals, Joe Biden is referenced with code names such as “Celtic” or “the big guy.” In one, “the big guy” is discussed as possibly receiving a 10% cut on a deal with a Chinese energy firm. There are also references to Hunter paying off the bills of his father from shared accounts. From his board memberships to venture deals to legal fees to his art deals, Hunter Biden is a tour de force of alleged corrupt practices used in Washington.

    Many Democrats and legal experts have objected that influence peddling is not a crime. However, it is corrupt and squarely within the oversight authority of Congress. Indeed, if it is not a matter for criminal charges, such congressional action may be the only way to force accountability for corrupt efforts to sell influence and access.

    Tyler Durden
    Tue, 04/18/2023 – 18:45

  • Saudi Foreign Minister Lands In Syria, Meets Assad, In 1st Since War's Start In 2011
    Saudi Foreign Minister Lands In Syria, Meets Assad, In 1st Since War’s Start In 2011

    This is the visit that Washington policymakers and establishment Middle East “experts” have been dreading, and signals that the West’s proxy war to oust Assad is definitively over – at least in terms of the end of hawks and neocons’ longtime hope of seeing Assad overthrown

    Saudi Foreign Minister Prince Faisal bin Farhan landed in Damascus on Tuesday for the first time since the start of the war in 2011.

    Image: Saudi Foreign Ministry

    It’s also an image that many thought would never happen, and paves the way for a possible future visit of Assad to Saudi Arabia, where he could eventually meet directly with King Salman or crown prince Mohammed bin Salman.

    The high-level visit comes just following last week’s “surprise” trip by Syrian Foreign Minister Faisal Mekdad to the kingdom. Clearly, relations are fast being restored and rumors are that the next move is for Assad to be invited back into the Arab League.

    According to a summary of Tuesday’s visit in regional news source Al-Monitor

    Farhan was received by Syrian President Bashar al-Assad. The two discussed efforts towards finding a “political solution” to the Syria conflict that would “preserve Syria’s unity, security, stability, Arab identity, and territorial integrity.”

    They also talked about the “return of Syria to its Arab fold and the resumption of its natural role in the Arab world,” according to a statement from the Saudi Ministry of Foreign Affairs.

    Already the United Arab Emirates (UA) had resumed relations with Syria in 2018. Other regional countries now seem to be lining up to restore normal relations.

    https://platform.twitter.com/widgets.js

    For example, Tunisia and Syria agreed to fully restore relations last week, after a three-day visit of Syrian FM Mekdad to Tunis.

    This wave of thawed relations between Assad and Arab states was without doubt helped to a large degree by the China-brokered peace deal between Saudi Arabia and Iran. Syria is Iran’s closest ally in the Levant, and is also a hub of support to Lebanese Hezbollah. It’s likely to complicate the US-brokered Abraham Accords, and may hinder recognition between Saudi Arabia and Israel. 

    Tyler Durden
    Tue, 04/18/2023 – 18:25

Digest powered by RSS Digest

Today’s News 18th April 2023

  • Brits Aren't Impressed With Their Politicians Right Now
    Brits Aren’t Impressed With Their Politicians Right Now

    Conservative UK Prime Minister Rishi Sunak and Labour leader Keir Starmer received the highest levels of support from the public out of the 20 politicians Statista polled, with just 18 percent of UK adults saying they thought the leaders were doing a good job.

    Infographic: Brits Aren't Impressed With Their Politicians Right Now | Statista

    You will find more infographics at Statista

    Former Prime Minister Boris Johnson came just behind, with 15 percent of support. Trailing further behind still came Dominic Raab, the Deputy Prime Minister, and Jacob Rees-Mogg, the Conservative MP for North East Somerset, who received just 6 percent each.

    But, as Statista’s Anna Fleck notes, when looking at the share of support in terms of voting patterns, things look a little more hopeful for the party leaders. Then, 38 percent of Labour voters said Keir Starmer was doing a job and 45 percent of Conservative voters said the same for Rishi Sunak.

    Tyler Durden
    Tue, 04/18/2023 – 02:45

  • EU Slams Poland & Hungary's Ban On Ukrainian Food Imports As Other Countries Threaten To Join Blockade
    EU Slams Poland & Hungary’s Ban On Ukrainian Food Imports As Other Countries Threaten To Join Blockade

    Authored by Gergorz Adamczyk via Remix News,

    The European Commission has slammed Poland and Hungary’s ban on Ukrainian food imports, saying member states cannot make such decisions regarding trade policy.

    The leader of the ruling conservative Law and Justice party (PiS), Jarosław Kaczyński, announced over the weekend that a range of agricultural products such as grain, fruits, dairy, vegetables and poultry meat would be stopped from entering Poland from Ukraine. The decision has come as a result of the glut of grain from Ukraine and the flood of Ukrainian products onto the Polish market. In addition, Hungary and Slovakia have enacted similar measures, and there are reports that Romania and Bulgaria may also close their border to certain Ukrainian food imports.

    “Bulgarian interests must be protected. Moreover, now that two countries have already acted in this way, if we do not react, the accumulations on Bulgarian territory could become even bigger,” Bulgaria’s acting Agriculture Minister Yavor Gechev said.

    If Hungary, Slovakia, Romania, and Poland all block Ukrainian food product transit, it would effectively result in a geographical blockade in Europe, as the four countries border Ukraine.

    Despite the growing crisis affecting Central and Eastern European countries, the European Commission argues that trade policy is the exclusive competence of the European Union and that “unilateral actions are unacceptable.” It also asserted that in difficult times, it was important to maintain coordination and unity in EU actions.

    According to commercial television station Polsat News, the matter has already been the subject of calls between European Commission President Ursula von der Leyen, Polish Prime Minister Mateusz Morawiecki and Ukrainian PM Denys Shmyhal.

    Hungarian Minister of Agriculture István Nagy announced on Saturday that Hungary will also temporarily ban the import of grain and oilseeds from Ukraine, as well as several other agricultural products, after Poland announced its ban.

    According to the ministry’s statement, the continuation of the current market trends would cause such serious damage to Hungarian agriculture that extraordinary measures must be taken to prevent them. He added that Ukrainian agriculture uses production practices no longer allowed in the European Union resulting in extremely low production costs. Ukraine was also given duty-free access to the European market, with free trade opportunities for grain and oilseeds, as well as large quantities of poultry, eggs and honey, making it impossible for Hungarian and Central European farmers to compete.

    Nagy stressed that the restriction on imports into Hungary is temporary and will last until June 30, 2023, which may be enough time to take meaningful and lasting EU measures for a lasting solution.

    According to the statement, the agricultural sector expects the EU to ensure fair market conditions for European agriculture. The Hungarian government will always stand by Hungarian farmers and will protect Hungarian agriculture, the minister said.

    Despite several affected member states’ demands for a Union-level solution, the EU has so far done nothing to rectify the situation.

    The Ukrainian Ministry of Agriculture has expressed disappointment at Poland’s decision and stated that the decision was contrary to the agreement between the two countries. The statement went on to acknowledge that Polish farmers were in a difficult situation, but that “the situation of Ukrainian farmers was the most acute of all.”

    A statutory instrument banning the import of chosen products from Ukraine was introduced by the Polish minister of development and technology, Waldemar Buda. He tweeted that “in answer to questions that are arising, the ban is of a comprehensive nature including the transit of such goods through Poland.”

    The transit will be a subject of discussion with Ukraine regarding tightening the system to establish “guarantees that these products will not remain in Poland.” The goods that have been banned include grain, sugar, fruits and vegetables, wines, meat, dairy products and poultry. 

    Last year, the Russian naval blockade of Ukrainian grain shipments caused global wheat prices to rise by 60 percent in three months. The food crisis was mainly a concern for poorer countries in Africa and Asia, so Western countries have used every means possible to get supplies out of Ukraine. However, many of those supplies have remained in Europe, leading to drastic reductions in wheat prices.

    Countries neighboring Ukraine set up solidarity corridors to transport grain to EU ports by boosting rail transport capacity. At the same time, the European Union abolished import tariffs against Kyiv so that the crops were freely flooding into Europe at depressed prices.

    Ukraine’s imports of grain to the EU were 287,000 tons in 2021, rising to nearly 2.9 million tons in 2022.

    Tyler Durden
    Tue, 04/18/2023 – 02:00

  • Russia Flexes Naval Might With Pacific Snap Drills Involving Over 25,000 Servicemen
    Russia Flexes Naval Might With Pacific Snap Drills Involving Over 25,000 Servicemen

    Russia’s defense ministry has revealed details of ongoing snap live-fire military exercises which kicked off April 14. President Putin also hailed the drills as a success at a moment most forces are concentrated in Ukraine. Defense Minister Sergey Shoigu said Monday that the surprise combat readiness check of Russia’s Pacific Fleet has involved over 25,000 servicemen being placed on high alert.

    “They’re engaged in fire drills and tactical exercises, while also working on improving interactions between different branches of the military,” Shoigu said. He also revealed that in total 167 ships, 12 submarines, and 89 planes and helicopters are taking part in the large-scale exercises.

    Image source: Russian Defense Ministry

    Shoigu specified that during the drills Russia’s nuclear-capable long-range strategic bombers will “fly over the central part of the Pacific Ocean to imitate strikes against groups of enemy ships.”

    These drills which are far away from the frontlines of the Ukraine war are likely an attempt to demonstrate to the West that Russia still has immense military capability in different theatres. The Associated Press detailed the expanse of the drills as follows:

    The Defense Ministry has declared that sectors in the southern part of the Sea of Okhotsk, the Peter the Great Bay of the Sea of Japan and the Avacha Bay on the southeastern coast of the Kamchatka Peninsula would be closed to sea and air traffic for the duration of practice torpedo and missile launches and artillery exercises.

    The ministry said that the drills were intended to “test the Pacific Fleet’s readiness to repel aggression.” The ministry described the briefing as a show of Russia’s “voluntary transparency.”

    Shoigu said at a moment that the Ukraine ground and air war still rages that “nobody has aborted the task of developing the navy” and declared that the “final stage” of the drills will kick off Tuesday. He previously noted that the combat readiness checks are all about “boosting the ability of the armed forces to execute the tasks of repelling aggression by a potential enemy from maritime directions.”

    On Monday President Putin praise the “high level” performance of the Russian navy and armed forces in the exercise, saying that more such drills will be held.

    Interestingly, multi-national drills are also kicking off in Sweden this week, per a description in Russian state media

    The Aurora-23 international military exercise – the largest over the past 25 years – began in Sweden on Monday. It will last until May 11, with the United States, Britain, Finland, Poland, Norway, Estonia, Latvia, Lithuania, Ukraine, Denmark, Austria, Germany and France taking part, the Swedish Defense Ministry said.

    The purpose of the exercise is to “improve the combat readiness of the armed forces” in the event of a hypothetical armed attack on Sweden.

    “The exercise is one of the main tools of enhancing, testing and demonstrating combat readiness,” the Defense Ministry said. “Together with military units from our partner countries, we strengthen security while enhancing Sweden’s operational capabilities.”

    The exercise will take place in the air, on land and at sea. Some 26,000 troops from all military units, mainly in the south of Sweden and also on the island of Gotland will take part.

    With this, it looks like the West is using the opportunity to flex its military might in these annual drills as well, at a moment the Ukraine conflict shows no signs of abating.

    Tyler Durden
    Mon, 04/17/2023 – 23:30

  • Rise of the Petroyuan: The End Of The Petrodollar’s Reign And The Impact On Global Markets
    Rise of the Petroyuan: The End Of The Petrodollar’s Reign And The Impact On Global Markets

    Authored by Nick Giambruno via Doug Casey’s International Man,

    Did you know that central banks bought more gold last year than any year in the past 55 years—since 1967?

    Though most don’t realize it, 1967 was a significant year in financial history, mainly due to the events at the London Gold Pool.

    The London Gold Pool was an agreement among central banks of the United States and Western European countries to stabilize the price of gold. The goal was to maintain the price of gold at $35 per ounce by collectively buying or selling gold as needed.

    However, in 1967 the London Gold Pool collapsed due to a shortage of gold and increased demand for the metal. That’s because European central banks bought massive amounts of gold as they began to doubt the US government’s promise to back the dollar to gold at $35/ounce. The buying depleted the London Gold Pool’s reserves and pushed the price of gold higher.

    In short, 1967 was the beginning of the end of the Bretton Woods international monetary system that had been in place since the end of World War 2. It ultimately led to severing the US dollar’s last link to gold in 1971. The dollar has been unbacked fiat confetti ever since—though the petrodollar system and coercion have propped it up.

    The point is large global gold flows can be a sign that a paradigm shift in the international monetary system is imminent.

    Central banks are the biggest players in the gold market. And now that we have just experienced the largest year for central bank gold purchases since 1967, it’s clear to me something big is coming soon.

    And those are just the official numbers that governments report. The actual gold purchases could be much higher because governments are often opaque about their gold holdings, which they consider a crucial part of their economic security.

    Today, I think we are on the cusp of a radical change in the international monetary system with profound implications. Yet, few are aware of what is happening and its enormous significance.

    I suspect most people will be taken by surprise—and it won’t be a pleasant one. They’ll be the ones holding the bag for a failing monetary system.

    But it doesn’t have to be a disaster for everyone…

    Those who get positioned properly ahead of this paradigm shift could make fortunes.

    The Real Reason for China’s Massive Gold Stash

    According to the Financial Times, the big buyers of gold in 2022 were China and Middle East oil producers. That’s not a coincidence, as these countries will be at the center of the changes to the international monetary system.

    It’s no secret that China has been stashing away as much gold as possible for many years.

    China is the world’s largest producer and buyer of gold. Most of that gold finds its way into the Chinese government’s treasury.

    Nobody knows the exact amount of gold China has, but most observers believe it is many multiples of what the government declares.

    Today it’s clear why China has had an insatiable demand for gold.

    Beijing has been waiting for the right moment to pull the rug from beneath the US dollar. And now is that moment…

    The key to understanding it all is Chinese President Xi’s recent historic visit to Saudi Arabia and other Gulf Cooperation Council (GCC) states to launch, in his words, “a new paradigm of all-dimensional energy cooperation.”

    The GCC includes Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, and the United Arab Emirates. These countries account for more than 25% of the world’s oil exports, with Saudi Arabia alone contributing around 17%. In addition, more than 25% of China’s oil imports come from Saudi Arabia.

    China is the GCC’s largest trading partner.

    The meetings reflect a natural—and growing—trade relationship between China, the world’s largest oil importer, and the GCC, the world’s largest oil exporters.

    During Xi’s visit, he made the following crucial remarks (emphasis mine):

    “China will continue to import large quantities of crude oil from GCC countries, expand imports of liquefied natural gas, strengthen cooperation in upstream oil and gas development, engineering services, storage, transportation and refining, and make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade.”

    After years of preparation, the Shanghai International Energy Exchange (INE) launched a crude oil futures contract denominated in Chinese yuan in March 2018. It’s the first oil futures contract to be traded in China. The contract is based on Brent crude oil, the global benchmark for oil prices, and is settled in cash.

    Since then, any oil producer can sell its oil for something besides US dollars… in this case, the Chinese yuan.

    The INE yuan oil futures contract provides a new pricing benchmark for the global oil market, which the US dollar has traditionally dominated. By trading in yuan, the contract is expected to increase the use of the Chinese currency in global trade and reduce the reliance on the US dollar.

    Its significance lies in its potential to shift the balance of power in the oil market away from the US and towards China and to increase the use of the Chinese yuan in global trade.

    There’s one big issue, though. Most oil producers don’t want to accumulate a large yuan reserve, and China knows this.

    That’s why China has explicitly linked the crude futures contract with the ability to convert yuan into physical gold—without touching China’s official reserves—through gold exchanges in Shanghai (the world’s largest physical gold market) and Hong Kong.

    PetroChina and Sinopec, two Chinese oil companies, provide liquidity to the yuan crude futures by being big buyers. So, if any oil producer wants to sell their oil in yuan (and gold indirectly), there will always be a bid.

    After years of growth and working out the kinks, the INE yuan oil future contract is now ready for prime time. Xi wouldn’t promise the GCC large and consistent oil purchases if it wasn’t ready.

    Why is China purchasing oil and gas from the GCC in yuan important?

    Because it undercuts the petrodollar system, which has been the bedrock of the US and international financial system since the Bretton Woods system broke down in 1971.

    The Saudis Acquiesce and What Happens Next

    For nearly 50 years, the Saudis had always insisted anyone wanting their oil would need to pay with US dollars, upholding their end of the petrodollar system.

    But that all changed recently.

    After Xi’s historic visit and bombshell announcement, the Saudi government isn’t hiding its intention to sell oil in yuan. According to a recent Bloomberg report:

    “Saudi Arabia is open to discussions about trade in currencies other than the US dollar, according to the kingdom’s finance minister.”

    In short, the Saudis don’t think the US is holding up its end of the petrodollar deal. So they don’t feel like they should hold up their part.

    The Saudis are angry at the US for not supporting it enough in its war against Yemen. They were further dismayed by the US withdrawal from Afghanistan and the nuclear negotiations with Iran.

    In this context, China swooped in and, after many years, finally compelled the Saudis to accept yuan as payment.

    It was bound to happen.

    China is already the world’s largest oil importer. Moreover, the amount of oil it imports continues to grow as it fuels an economy of over 1.4 billion people (more than 4x larger than the US).

    The sheer size of the Chinese market made it impossible for Saudi Arabia—and other oil exporters—to ignore China’s demands to pay in yuan indefinitely. The Shanghai International Energy Exchange further sweetens the deal for oil exporters.

    Here’s the bottom line.

    Saudi Arabia—the linchpin of the petrodollar system—is openly agreeing not to sell its oil exclusively in US dollars.

    It signals an imminent and enormous change for anyone holding US dollars. It would be incredibly foolish to ignore this giant red warning sign.

    Even the WSJ admits such a move would be disastrous for the US dollar.

    “The Saudi move could chip away at the supremacy of the US dollar in the international financial system, which Washington has relied on for decades to print Treasury bills it uses to finance its budget deficit.”

    Ron Paul is an American politician and physician who has been a vocal critic of the current international monetary system for decades. Nixon’s move to end the dollar’s link to gold in 1971 initially motivated him to get into politics. He is known for his views on monetary policy, central banking, and the Federal Reserve. Ron Paul has written several books on these topics and advocated for a return to sound money and a gold-backed monetary system.

    In short, Ron Paul knows more about the international monetary system than almost anyone alive.

    He once gave a speech called “The End of Dollar Hegemony,” where he pointed out the one thing that would precipitate the US dollar’s collapse.

    Here’s the relevant part:

    “The economic law that honest exchange demands only things of real value as currency cannot be repealed.

    The chaos that one day will ensue from our experiment with worldwide fiat money will require a return to money of real value.

    We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros.

    The sooner the better.”

    Here’s the bottom line.

    The end of the petrodollar system is imminent.

    For over 50 years, this arrangement has allowed the US government and many Americans to live way beyond their means.

    The US takes this unique position for granted. But it will soon disappear.

    There will be a lot of extra dollars floating around suddenly looking for a home now that they are not needed to purchase oil.

    As a result, a lot of oil money—hundreds of billions of dollars and perhaps trillions—that would typically flow through banks in New York in US dollars into US Treasuries will instead flow through Shanghai into yuan and gold.

    The end of the petrodollar system is bad news for Americans. Unfortunately, there’s little any individual can practically do to change the course of these trends in motion.

    The best you can and should do is to stay informed so that you can protect yourself in the best way possible, and even profit from the situation.

    That’s precisely why I just released an urgent report on where this is all headed and what you can do about it… including three strategies everyone needs today.

    Click here to download the PDF now.

    Tyler Durden
    Mon, 04/17/2023 – 23:00

  • David's Bridal Files For Second Bankruptcy In 5 Years, To Lay Off 9,200 Workers
    David’s Bridal Files For Second Bankruptcy In 5 Years, To Lay Off 9,200 Workers

    Bridal retailer David’s Bridal is going to be laying off more than 9,200 workers nationwide but plans on staying open after filing for bankruptcy for the second time in just five years. 

    As the chain gets ready to deal with a busy prom and wedding season, a notification of the layoffs was filed with the Department of Labor in Pennsylvania, according to NJ.com

    Layoffs started in Pennsylvania on Friday and its unclear when additional, out of state layoffs would take place, the report notes. The company currently has 300 stores across the United States. 

    “David’s Bridal has commenced a financial restructuring process to facilitate a potential sale of our company,” the company said in a statement. It is reportedly trying to sell itself, but stores should continue to take orders. 

    Nationwide, the Conshokocken, Pennsylvania-based chain has over 11,000 employees. Previously, it filed for bankruptcy in 2018 and also operated normally through the process. 

    Recall, days ago we noted that small businesses were filing for bankruptcy at a record pace, even surpassing the Covid crash:

    The note from UBS Evidence Lab shows private bankruptcy filings in 2023 have exceeded the highest point recorded during the early stages of the COVID pandemic by a considerable amount. The four-week moving average for private filings in late February was 73 percent higher than in June 2020.

    “[We] believe one of the more underappreciated signs of distress in U.S. corporate credit is already emanating from the small- and mid-size enterprises sector,” Matthew Mish, head of credit strategy at UBS, wrote in a recently published research note. “[The] smallest of firms [are] facing the most severe pressure from rising rates, persistent inflation and slowing growth.”

    Industries hit hardest by the wave of bankruptcies include real estate, health care, chemicals, and retail outlets, according to the Swiss Bank’s report.

    Tyler Durden
    Mon, 04/17/2023 – 22:30

  • Washington State House Approves Bill Authorizing Hiding Of Children Seeking Transgender Medical Intervention From Parents
    Washington State House Approves Bill Authorizing Hiding Of Children Seeking Transgender Medical Intervention From Parents

    Authored by Matt McGregor via The Epoch Times (emphasis ours),

    The Washington state House approved a bill that would authorize state agencies to hide children seeking transgender medical intervention from parents.

    Washington state Rep. Alicia Rule in 2023 (Courtesy of TVW)

    On April 12, House lawmakers debated Senate Bill 5599 (pdf), which creates an exemption for the state that grants it the right to not be required to notify parents of minors who have left their homes because their parents wouldn’t let them pursue gender transition medical procedures.

    In a video statement after the vote, Republican state Rep. Chris Corry said the bill “erodes parental rights in the state of Washington.”

    “Essentially what the bill would do would be if a child left a parents’ home for certain medical care and went to a shelter or host family, that shelter or host family would not be required to notify the parents of their child’s whereabouts,” Corry said. “This is obviously a fundamental violation of parental rights and something that’s deeply concerning for parents across Washington state.”

    State Rep. Peter Abbarno, a Republican, said the crux of the debate over the bill was whether the state be permitted to “essentially hide where the child is.”

    Most parents, Corry said, would “go to the ends of the earth to find their child” if they disappeared after an argument.

    “And the fact that we have a bill that may become law that would say, ‘we’re not going to tell you,’ was really just a bridge too far for us,” Corry said.

    Corry told The Epoch Times that, under the bill, a disagreement between a child and parents over the child’s desire for a medical transition constitutes “abuse and neglect,” only because the parent hasn’t “properly affirmed what the child wants.”

    Corry said there are already laws that protect children from abuse and neglect in the state that require “solid and compelling reasons” why children would need to be removed from their homes.

    “What’s frustrating is even in those cases, the parents still have a right to know where their kids are after they’ve been removed,” Corry said. “In this case, parents would have no idea.”

    House Debate

    Republican state Rep. Travis Couture spoke on the House floor in a debate over amendments to the bill, stating that the U.S. Constitution, based on the precedent set by previous Supreme Court rulings, permits the state to interfere with the right of parents only to prevent harm to a child “and any legislation that goes further fails that standard.”

    The Constitution doesn’t tell us what we can do; it tells us what we can’t do to people,” Couture said. “And multiple times our U.S. Supreme Court has ruled in favor of parental rights.”

    The Due Process clause of the Fourteenth Amendment “gives parents the right to parent” through the educating and rearing “as they see fit.”

    “I think it’s important as we embark on this bill tonight to recognize the very important and critical role parents have not only in our society, and not only with their families and their children but in our law as well,” Couture said.

    State Rep. Julio Cortes, a Democrat, said though having a supportive family environment is critical, it doesn’t always determine the best outcome for the success of a child’s well-being.

    “But family dynamics as I’m sure a lot of us can agree at times be let’s say complicated,” Cortes said. “Positive mental health outcomes are possible even when a family dynamic is negative, and on the other side negative outcomes are possible even when a family is supportive. This bill is about providing housing security for our trans youth.”

    While not addressing parental consent, Cortes shared an anecdotal story about a trans child he said he helped while working with homeless youth.

    The child, he said, ran away to protect his family who was being attacked by community members over the child’s decision.

    “I had the privilege of working with this youth and through case management and our prevention program we were able to get that youth back home, but we got him back home with the skills and the tools that they needed and that their family needed to make sure that they could be safer,” he said. “Supporting our trans youth is a collective effort, Mr. Speaker, and while families play a critical role, they are not the only support system that these youth need. It takes, as they say, a village.”

    Read more here…

    Tyler Durden
    Mon, 04/17/2023 – 22:00

  • FBI Arrest Two In Manhattan For 'Conspiring' To Act As CCP Spies, Operating Illegal Police Station
    FBI Arrest Two In Manhattan For ‘Conspiring’ To Act As CCP Spies, Operating Illegal Police Station

    The FBI arrested two New York residents with conspiring to act as agents of China’s government, by operating an illegal police station, and acting as spies.

    The America ChangLe Association in New York on Oct. 6, 2022. An overseas Chinese police outpost in New York, called the Fuzhou Police Overseas Service Station, is located inside the association building. (Samira Bouaou/The Epoch Times)

    In a Monday press release, the Department of Justice announced the arrests of Lu Jianwang, 61, and Chen Jinping, 59, in connection with the undeclared police station in Manhattan’s Chinatown neighborhood. They will be prosecuted in the Eastern District of New York, and are expected to appear in federal court in Brooklyn.

    The two admitted to the FBI that they deleted their communications with a CCP official after discovering they were under investigation.

    It is simply outrageous that China’s Ministry of Public Security thinks it can get away with establishing a secret, illegal police station on U.S. soil to aid its efforts to export repression and subvert our rule of law,” said Acting Assistant Director Kurt Ronnow of the FBI Counterintelligence Division. “This case serves as a powerful reminder that the People’s Republic of China will stop at nothing to bend people to their will and silence messages they don’t want anyone to hear. The FBI is dedicated to protecting everyone in the United States against efforts to undermine our democratic freedoms, and we’ll hold any state actors – and those who help them – accountable for breaking our laws.”

    According to the DOJ;

    Before helping to open the police station in early 2022, Lu had a longstanding relationship of trust with PRC law enforcement, including the MPS. Since 2015, and through the operation of the secret police station, Lu was tasked with carrying out various activities, including to assist the PRC government’s repressive activities on U.S. soil:

    • In 2015, during PRC President Xi Jinping’s visit to the United States, Lu participated in counterprotests in Washington, D.C,. against members of a religion that is forbidden under PRC law. A deputy director of the MPS awarded Lu a plaque for the work he performed on behalf of the PRC government.
    • In 2018, Lu was enlisted in efforts to cause a purported PRC fugitive to return to the PRC. The victim reported being repeatedly harassed to return to the PRC, including through threats of violence made to the victim and the victim’s family in the United States and in the PRC.
    • In 2022, the MPS Official sought Lu’s assistance in locating an individual living in California who is a pro-democracy activist. In turn, Lu enlisted the help of another coconspirator. Later, when confronted by the FBI about these conversations, Lu denied that they occurred.

    In October 2022, the FBI conducted a judicially authorized search of the illegal police station. In connection with the search, FBI agents interviewed both Lu and Chen and seized their phones. In reviewing the contents of these phones, FBI agents observed that communications between Lu and Chen, on the one hand, and the MPS Official, on the other, appeared to have been deleted. In subsequent consensual interviews, Lu and Chen admitted to the FBI that they had deleted their communications with the MPS Official after learning about the ongoing FBI investigation, thus preventing the FBI from learning the full extent of the MPS’s directions for the overseas police station.

    Each defendant faces a maximum of five years in prison if convicted for conspiring to act as agents of the PRC, and up to 20 years in prison on the obstruction of justice charge.

    In a second complaint, 24 Chinese police officers were charged over belonging to a “special project working group” task force that “commits crimes, targeting Chinese democracy activists and dissidents located outside of the PRC, including right here in New York City, according to Eastern District of New York Attorney Breon Peace, who added that “This task force operates as an internet troll farm, creating thousands of fake online personas which they use in a coordinated plot to harass, disparage and threaten dissidents and activists throughout the world.”

    In February, we noted that the FBI closed the illegal Chinatown police station following a raid of the building last fall. As the Epoch Times noted at the time;

    The closure of the facility in New York’s Chinatown comes just weeks after The New York Times reported that FBI agents raided and searched the building at an undisclosed time last fall.

    The facility and more than 100 others like it form a network of covert facilities from which experts believe that the Chinese Communist Party (CCP) is conducting a campaign of transnational repression.

    According to two reports published in October 2022 and December 2022 by Safeguard Defenders, a nonprofit organization, the overseas police outposts are used to collect intelligence and even forcibly repatriate Chinese dissidents to the mainland to be imprisoned.

    “We are aware of reports regarding alleged PRC ‘overseas police stations,’” the State Department spokesperson said.

    We take this issue very seriously. Establishing so-called overseas police stations without the invitation or approval of the country in which they are operating raises serious issues of respect for the sovereignty of that country.”

    The spokesperson referred The Epoch Times to the FBI and Justice Department for further information. The Justice Department didn’t respond to a request for comment by press time, and the FBI declined to comment on the matter.

    China’s Communist Regime ‘Violates Sovereignty’

    Chinese authorities maintain that the facilities, which operate in 53 nations, assist Chinese immigrants in foreign nations with tasks that would normally be handled by a consulate, such as renewing driver’s licenses and visas.

    However, the stations have been linked to the CCP’s United Front Work Department, an agency that works to advance the regime’s interests abroad by spreading propaganda, conducting foreign influence operations, suppressing dissident movements, gathering intelligence, and facilitating the transfer of technology to communist China.

    As such, many nations have voiced concern that the facilities are a threat to national security and a violation of sovereignty.

    Tyler Durden
    Mon, 04/17/2023 – 21:30

  • DeSantis Targets 'Cultural Marxism,' Vows 'War On Woke' At Liberty University
    DeSantis Targets ‘Cultural Marxism,’ Vows ‘War On Woke’ At Liberty University

    Authored by Terri Wu via The Epoch Times (emphasis ours),

    Florida Gov. Ron DeSantis speaks at Liberty University in Lynchburg, Va., on Apr. 14, 2023. (Courtesy of Liberty University)

    LYNCHBURG, Va.—Fresh off signing a six-week abortion ban into law the day before, Florida Gov. Ron DeSantis vowed to continue fighting the “war on woke” to about 9,000 students before receiving an honorary degree of the Doctorate of Humanities at Liberty University on Friday.

    Speaking to young evangelicals at the twice-weekly convocation service, which the school calls “the world’s largest gathering of Christian students,” DeSantis touted Florida as the “refuge of sanity” and “a ray of hope” when “freedom and our very own way of life… withered on the vine” in the country.

    In his view, Florida’s population growth and his landslide reelection victory last year are a direct result of his fight against woke ideology—what he called “cultural Marxism”—and Americans “voting with their feet.”

    We have made Florida the state where woke goes to die,” he declared as the audience burst into a loud cheer.

    His statements against gender ideology—prohibiting using puberty blockers or sex change operations on minors in Florida and criticizing biological males competing in women’s sports—were also well-received by the crowd. “Because woke represents a war on truth, we must wage a war on woke,” he added.

    Florida Gov. Ron DeSantis (C) receives an honorary degree of the Doctorate of Humanities at Liberty University from university president Jerry Prevo (L) and pastor Jonathan Falwell in Lynchburg, Va., on Apr. 14, 2023. (Courtesy of Liberty University)

    The governor started his speech by thanking Liberty University students for praying for his wife Casey’s recovery from breast cancer. Casey was diagnosed in 2021 and became cancer-free late last year. “The prayers that we received as a result of that lifted up our spirits,” he said. “The prayers have been answered.”

    In closing, he said he “looked forward to the battles ahead” in the “war on truth,” “I will fight the good fight. I will finish the race. I will keep the faith.”

    Florida Gov. Ron DeSantis speaks at Liberty University in Lynchburg, Va., on Apr. 14, 2023. (Terri Wu/The Epoch Times)

    ‘Uplifting’ and ‘Inspiring’

    Giulia Nicole, a homeschooled high school senior, said DeSantis’s speech was “uplifting.” She has been on dual enrollment at Liberty University online and will attend the college full-time in August, majoring in accounting.

    “A lot of times when you hear people speak, you kind of leave feeling like the world is just going downhill, and there’s not a lot of hope,” she told The Epoch Times. “Gov. DeSantis was very uplifting. He was a breath of fresh air because I feel encouraged right now. I don’t feel worried about the future. So I really enjoyed his speech.”

    She attended the convocation with her mother Carla Nicole, grandmother Maria Shoemaker, and a friend Savannah Dudzik, a Floridian in Lynchburg, for just the weekend for a pro-life event.

    “I would just say I was impressed. Every time he speaks, I’m a little bit more impressed. He’s so genuine. And we need people like that in politics,” Dudzik, a resident in the Tampa Bay area, told The Epoch Times. “We need people who are genuine, people who you can tell he’s not there for the crowd. He’s not there for the applause. He’s there for the people. He’s there for us.”

    Read more here…

    Tyler Durden
    Mon, 04/17/2023 – 21:00

  • USPS Targets Hiking First Class Mail Prices By 5.4%
    USPS Targets Hiking First Class Mail Prices By 5.4%

    The same U.S. government that is fighting inflation is also succumbing to it: the price of stamps and postage is once again moving higher. Prices on first-class mail stamps will rise to 66 cents from 63 cents in July, pending approval from regulators, according to CNN

    The price hike – which is being put in place to “offset a rise in operating expenses” – amounts to about a 5.4% hike. Someone should tell the government those hikes are “above the Fed’s 2% target”. 

    Among those expenses are a rise in wages and increasing costs of doing business. “These price adjustments are needed to provide the Postal Service with much needed revenue,” the post office commented in a statement

    The price of postcards will also go up, from 48 cents to 51 cents. International postcards will see their prices rise from $1.45 to $1.50.

    As the report notes, regulators turning down USPS requests for prices hikes are rare, though it did happen in 2010 because the Post Office “failed both to quantify the impact of the recession on its finances and to show how its rate request relates to the resulting loss of mail volume.”

    The post office expects to lose $4.5 billion in 2023 and we’re sure these price hikes will do little to help rectify the bottom line. But hey, raising prices 5.4% while the Fed clamors for 2% inflation all while burning cash is American as apple pie.

    Maybe the Post Office should take itself public on the NASDAQ via SPAC, where the market would value it on a price/sales basis instead of focusing on pesky details like actual net income and cash generation…

    Tyler Durden
    Mon, 04/17/2023 – 20:40

  • "We're Going To See A Lot Of Bankruptcies": Former Home Depot CEO Warns
    “We’re Going To See A Lot Of Bankruptcies”: Former Home Depot CEO Warns

    Authored by Naveen Anthrapully via The Epoch Times,

    Bob Nardelli, the former CEO of Home Depot, is warning about more bankruptcies hitting the U.S. economy, and blames lawmakers for their delay in coming to terms regarding the country’s debt ceiling.

    I think we’re going to see a lot of bankruptcies. Like Bed, Bath, and Beyond. We got Walmart not only laying people off but closing stores. We got Accenture laying people off. We got Amazon closing distribution centers. So, I think there’s a tremendous-mixed message,” Nardelli said in an April 14 interview with Fox.

    At present, the “complexity” of the American economy is “different than anything I have seen in my 52 years.”

    Nardelli also blamed Congress’ inability to work together to raise the U.S. debt limit as creating a burden on businesses, saying that he is “definitely worried” about the situation.

    The former Home Depot CEO says he is seeing “inventory builds” in a lot of public and private businesses. He pointed to the 2007–09 period when the banking meltdown took “everything down.”

    “I think we’re in a very complex environment. And, of course, this debt issue only adds to that. It adds to the certainty of uncertainty, what’s going to happen.”

    Surge in Bankruptcy Filings

    Bankruptcy filings across the United States rose for the third straight month in March in all major industries. A total of 42,368 new bankruptcies were filed last month, according to data from Epiq Bankruptcy, a provider of U.S. bankruptcy court data, technology, and services.

    This is 17 percent up from the 36,068 filings in March 2022 and is the highest number of monthly bankruptcy filings since April 2021.

    Data from S&P Global Market Intelligence showed 71 corporate bankruptcy petitions in March, a jump from 58 in the previous month. This is the highest monthly total since July 2020 and the fourth straight month of increases.

    First-quarter corporate bankruptcy filings came in at 183, which is “more than any comparable period in the past 12 years,” S&P Global said.

    Bank Lending Dips, Layoffs

    Meanwhile, lending activity by banks suffered the biggest plunge ever in the two weeks ending March 29. Commercial lending in the country declined by $105 billion during this period—the highest since 1973. The collapse in lending was led by declining real estate loans as well as industrial and commercial loans.

    According to financial analyst Andreas Steno Larsen, tough times are ahead for the American economy. “Evidence is gathering that the SVB-fueled banking stress indeed will turn into a recession, but instead of a fast and rapid liquidity-driven recession, we are rather slow-walking into a credit crunch over summer,” he wrote in an April 9 post.

    Indication of an incoming credit crunch was seen in the latest Survey of Consumer Expectations (SCE) by the New York Federal Reserve.

    “Perceptions of credit access compared to a year ago deteriorated in March, with the share of households reporting it is harder to obtain credit than one year ago rising and reaching a series high,” according to an April 10 press release.

    “Respondents were more pessimistic about future credit availability as well, with the share of households expecting it will be harder to obtain credit a year from now also rising.”

    Besides the credit crunch, there has been a quadrupling in worker layoffs.

    The first quarter of 2023 saw job cuts rise by 396 percent compared to the same period a year ago, according to an April report by outplacement firm Challenger, Gray & Christmas, Inc. The total number of job cuts announced by U.S.-based employers during this period came in at 270,416, which is the highest first-quarter number since 2020.

    The number-one reason cited by companies for the job cuts was market or economic conditions, followed by cost-cutting in second place.

    Billions of dollars have flown out from domestically chartered commercial banks in the country following the SVB collapse on March 10. Between the week ending March 8 and April 5, deposits have fallen from $16,249.9 billion to $15,996.7 billion—a decline of $253.2 billion, based on the latest numbers from the Fed.

    Tyler Durden
    Mon, 04/17/2023 – 20:20

  • Volkswagen Debuts ID7 Mid-Sized EV Sedan, Expected To Start At $38,000
    Volkswagen Debuts ID7 Mid-Sized EV Sedan, Expected To Start At $38,000

    Just as the EV price wars are heating up, Volkswagen has launched its much awaited ID7 sedan. Expected to be priced around $38,000 to $40,000 for the entry level model, the stunning sedan will assuredly be a direct competitor to Tesla’s Model 3.

    A release by the company on Monday details the first all-electric Volkswagen for the upper mid-size sedan class, touting its “combination of excellent aerodynamics and a new, more efficient drivetrain”. 

    The launch is set for Fall 2023 for Europe and China, and then 2024 for North America. The vehicle has a manufacturer’s estimated potential range of up to 435 miles, as well as “a revised powertrain, spacious interior and premium technologies”. 

    The release says of the new drivetrain:

    The new electric drivetrain has been optimized above all for energy efficiency. Depending on the battery size, Volkswagen estimates that, depending on trim, WLTP ranges of up to 435 miles (700 km) and DC fast charging capacities of up to about 200 kW will be possible.  EPA-estimated range is not yet available and will be released closer to the North American launch date.

    “With the ID.7 we are taking the next step in our electric offensive. The ID.7 offers a high level of comfort and long ranges. By 2026, we will offer the broadest electric vehicle range of all manufacturers in Europe—from the entry-level model for less than 25,000 euros up to the ID.7 as the new top model within the EV family. Our goal is to achieve an electric car share of 80 per cent in Europe by 2030. From 2033, Volkswagen will produce only electric vehicles in Europe,” said Thomas Schäfer, CEO of Volkswagen Passenger Cars. 

    Kai Grünitz, Member of the Brand Board of Management responsible for Development said: “The ID.7 sets new efficiency standards on the basis of the modular electric drive matrix (MEB). We are aiming for a range of up to 700 kilometres2 on the WLTP standard. This is made possible by very good aerodynamics and by significantly increased efficiency in the areas of the powertrain and thermal management.”

    “The ID.7 is an extremely important model for the Volkswagen brand in Europe, North America and China. The ID.7 offers an attractive package that will excite both existing and new Volkswagen customers all over the world. With this Volkswagen, we are offering premium technologies that impress through their exclusivity, comfort and high degree of everyday usability,” concluded Imelda Labbé, Member of the Brand Board of Management for Sales, Marketing and Aftersales.

    You can watch the full launch here:

     

    Tyler Durden
    Mon, 04/17/2023 – 20:00

  • Private Armies Are Making A Killing
    Private Armies Are Making A Killing

    Authored by Thomas Fazi via UnHerd.com,

    Mercenaries thrive while democracy dies…

    Last week, Russia claimed to have seized control of the city of Bakhmut after an eight-month battle with Ukrainian forces — the longest and bloodiest fight of the war so far. The assault, however, wasn’t led by the Russian Armed Forces, but by a private army that has been fighting alongside regular Russian troops since the invasion: the infamous Wagner Group.

    The Wagner Group has always been cloaked in mystery. In the first days of the war, reports emphasised the secretive nature of its military operations, including a plot to assassinate Zelenskyy and his cabinet. Until recently, it was unclear whether a company registered under the name “Wagner” even existed.

    That all changed in September 2022, when Yevgeny Prigozhin, a close ally of Putin, published a statement claiming that he founded the group in 2014 to “protect the Russians” when “the genocide of the Russian population of Donbas began”. Then, in January this year, he decided to make it official, registering Wagner as a business and opening its “PMC Wagner Center” headquarters in St Petersburg. He didn’t make any secret of its activities: as the company’s name, which also appears on the group’s logo, makes clear, the Wagner Group is a PMC: a private military company, also known as a mercenary group. The Russian government was forced to acknowledge its existence. The Wagner Group’s clandestine status was officially discarded.

    In many ways, Wagner’s emergence from the shadows symbolises the changing nature of modern warfare, in which the traditional Clausewitzian paradigm — based on a clear distinction between public and private, friend and enemy, civil and military, combatant and non-combatant — has given way to a much messier reality, in which state armies now regularly fight alongside private and/or corporate paramilitary and mercenary groups. Today’s conflicts, even when violent in nature, often occur in a “grey zone” below the threshold of conventional military action; adversarial states increasingly confront each other through proxies or surrogates — including private armies — rather than through their own armed forces. And this is not just a Russian issue: the increasingly central role of private military and security companies (PMSCs) in modern warfare is a global phenomenon.

    Private armies have existed for centuries. In recent decades, the use of mercenaries was particularly widespread during the Cold War, especially in Africa, in the context of decolonisation and the ensuing civil wars. In particular, they were widely used between the Sixties and early Eighties by the West to prevent colonies attaining independence or to destabilise or overthrow newly independent governments, such as in the Democratic Republic of Congo, the Republic of Benin and the Republic of Seychelles.

    At the time, there was virtually no international legal framework regarding mercenarism. It was only in 1977 that the Geneva Conventions incorporated an international legal definition of it. A mercenary, it held, is any person who is recruited to fight in an armed conflict, who actively takes a direct part in the hostilities, and who is neither a national of a party to the conflict nor a resident of territory controlled by one. It was a very narrow definition — but one which, at the behest of the newly independent nations, was specifically tailored to address the use of mercenaries by the West against the post-colonial governments.

    This led to the appointment, in 1987, of a Special Rapporteur on the use of mercenaries; and then, in 1989, to the International Convention against the Recruitment, Use, Financing and Training of Mercenaries, which entered into force in 2001 and added language specifying that mercenaries were people undermining legitimate governments — another clause that implicitly reflected the concerns of post-colonial countries. To this day, the Convention — which essentially copies the wording of the 1977 definition — represents the international legal definition of mercenarism.

    As a result, during the Nineties, there was a significant rise in the number of private military and security companies, who sought to distance their activities from the legal definition of mercenarism by presenting themselves as official business entities offering “legitimate” security and defence services allegedly distinguished from that of rogue mercenary groups. And, by and large, they did so successfully. In that decade alone, PMSCs reportedly trained the militaries of 42 nations and took part in more than 700 conflicts.

    There was a broader backdrop to this growth, too. The growing influence of the neoliberal logic of economic rationalisation and deregulation during the Nineties also pushed states to privatise and outsource many government functions and services — including warfare. Security came to be perceived as a commodity, a service like any other that could be sold and bought in the marketplace. This was also part of a broader push towards the transfer of national prerogatives to suprastate or, as in this case, non-state actors as a way to shift the decision-making process away from democratic institutions. This trend was compounded by the global downsizing of national military forces, which also expanded the recruiting pool for PMSCs.

    Even though PMSCs started out by mainly selling their services to developing countries and so-called failed states facing political crises, by the mid-Nineties Western governments, particularly the US, started to use them as well. By contracting them to support, train and equip the military and security forces of friendly governments — most notably in former Yugoslavia — Western powers were able to promote their interests and foreign policy agendas, while avoiding becoming embroiled in unpopular conflicts, and even circumventing national or international constraints on troop deployment. By the end of the decade, NGOs (such as Oxfam) and even the United Nations had also come to rely heavily on PMSCs for their own security and even for peacekeeping missions.

    In this sense, PMSCs did not replace the role of states as much as integrate into them. In some cases, they even bolstered state military power, by allowing governments to engage in forms of warfare that they might otherwise have been prevented from undertaking for fear of provoking a conventional military response by more powerful states, while also escaping public scrutiny. The Wagner Group’s activities in several African and the Middle Eastern countries — such as Syria, Libya, the Central African Republic and Mali — are a good illustration, insofar as they granted Moscow a degree of plausible deniability concerning its foreign interventions and the alleged human rights abuses committed by Wagner.

    Over the years, various efforts have been made to regulate this new phenomenon at the international level, eventually leading to the establishment of a UN Working Group on the use of mercenaries in 2005. But these bodies have, by and large, failed. Today, the sector remains largely unregulated and operates in a de facto legal vacuum. PMSCs can’t be considered soldiers or supporting militias under international humanitarian law, since they are not part of the army or in the chain of command — but nor can they usually be considered to be mercenaries under the narrow legal definition adopted by the UN. In the current conflict in Ukraine, for instance, the Wagner Group can’t be considered a mercenary group by legal standards for the simple fact that its members are nationals of one of the parties to the conflict.

    These private military companies remain largely unaccountable, characterised by a “fundamental lack of transparency around, and oversight over [their operations]”, as the UN Working Group noted in 2021. Indeed, it suggested that this is sometimes “done precisely with the ominous objective of providing ‘plausible deniability’ of direct involvement in a conflict”. Greater regulation would be welcome, of course, but it wouldn’t change the fact that corporate armies intrinsically undermine democratic accountability — arguably one of the reasons that makes them attractive to states in the first place.

    More fundamentally, what we are dealing with here is the legalisation and normalisation of mercenarism. The only real difference between traditional guns-for-hire and PMSCs is that the latter are often legally constituted businesses with corporate organisational structures. This lends them legitimacy and, theoretically, makes the monitoring of their actions and prosecution easier. But ultimately they remain, to all intents and purposes, “new modalities of mercenaries”, as even the UN General Assembly argued some years back.

    Crucially, the UN report acknowledges that the private security and military industry is a global and growing phenomenon. While today’s focus is on Wagner, the real mercenary boom occurred during the US-led military interventions in Afghanistan and Iraq. In both cases, the US relied heavily on PMSCs such as DynCorp and Blackwater (now known as Constellis). Indeed, at points, the number of contractors on the ground actually outnumbered American troops. By 2006, there were estimated to be at least 100,000 PMSC employees in Iraq working directly for the US Department of Defense.

    And like Wagner today, these were involved in several human rights abuses in the country. Blackwater, for example, the most high-profile PMSC in Iraq, was involved in the massacre of 17 Iraqi civilians in 2007 (which led to the conviction of four Blackwater employees), while other PMSCs were involved in the Iraq Abu Ghraib prison scandal (though none faced prosecution) and were alleged to have participated in the CIA’s “extraordinary rendition” programme — the kidnapping and forced removal of individuals to places known to torture. Despite these obvious failures, by the summer of 2020, the US had more than 20,000 contractor personnel in Afghanistan — roughly twice the number of American troops. Before that, in 2017, Erik Prince, founder of Blackwater, had proposed to fully privatise the war effort there.

    What could possibly inspire such chutzpah? Well, although the Iraqi and Afghan conflicts are generally considered to have been a strategic blunder for the US, not to mention a humanitarian tragedy, they were a boon for the PMSC sector: up until 2016, the US State Department spent $196 billion on PMSC contracts for the Iraq war, and $108 billion for the Afghan war. And business hasn’t slowed: in 2022, the PMSC sector — whose largest businesses are now American or British — was valued at $260 billion and is projected to reach a value of around $450 billion by 2030. The largest PMSC in the world, UK-based G4S, alone employs more than 500,000 people and is present in more than 90 countries.

    Should we be surprised? Ultimately, the growth of the PMSC sector is just another example of how economic transformations in recent decades have blurred the boundary between the public and private-corporate sphere to the point of making it indistinguishable. The result has been the rise of a state-corporate Leviathan which has gobbled up every sector of the economy — healthcare, banks, energy, tech — and has now taken over the field of warfare as well, at the expense of democratic control and oversight. This applies to Russia just as much as it applies to Western countries. If the conflict in Ukraine has taught us anything, it’s that war today is a bigger business than it’s ever been. No wonder peace — in Ukraine or elsewhere — seems constantly out of reach.

    *  *  *

    Like what you read? Join like minded readers that support our journalism, read unlimited articles and enjoy other subscriber-only benefits.

    Tyler Durden
    Mon, 04/17/2023 – 19:40

  • US Navy Sails Destroyer Through Taiwan Strait After China's War Games
    US Navy Sails Destroyer Through Taiwan Strait After China’s War Games

    The US Navy sailed its guided-missile destroyer, the USS Milius, through the Taiwan Strait on Monday as part of a “freedom of navigation” exercise just days after China’s large-scale military drills around Taiwan, reported Reuters

    According to the Navy’s 7th Fleet, the USS Milius conducted a “routine Taiwan Strait transit” through waters “where high-seas freedoms of navigation and overflight apply in accordance with international law.” 

    Last week, Beijing initiated a three-day military exercise around Taiwan on April 8, simulating targeted strikes and an island blockade. The drills were in reaction to Taiwan President Tsai Ing-wen’s meeting with US House of Representatives Speaker Kevin McCarthy earlier this month

    The 7th Fleet tweeted images of the destroyer sailing through the strait. 

    https://platform.twitter.com/widgets.js

    “The ship transited through a corridor in the Strait beyond the territorial sea of any coastal State,” the Navy said. It added the mission demonstrated the US commitment to a free and open Asia-Pacific region. 

    In response, the Eastern Theatre Command of the Chinese military reported that they were monitoring the movements of the US warship.

    According to a statement from the Eastern Theater Command’s spokesperson Shi Yilu, China stands ready at any time to “resolutely safeguard the country’s sovereignty, safety, and regional peace and stability.” 

    Meanwhile, Taiwan’s defense ministry said it detected 18 Chinese military warplanes and four naval vessels operating around the island. 

    Tyler Durden
    Mon, 04/17/2023 – 19:20

  • Florida Mayor Resigns Over $250M Budget Shortfall
    Florida Mayor Resigns Over $250M Budget Shortfall

    Authored by Adam Andrzejewski via RealClearWire,

    Mayor Frank Hibbard of Clearwater, Florida, resigned his position during a budget meeting after a series of reckless spending proposals that were set to leave Clearwater with over a $250 million budget shortfall, according to Fox News.

    This includes spending $90 million to construct a new city hall and municipal building — more than double the initial price tag of $40 million.

    Hibbard, a full-time financial advisor and wealth manager, cautioned his colleagues at a recent budget meeting that, “I’m concerned where the city is going because this is simple math and we’re not doing very well on the test.” After his emphatic warning, he resigned.

    Despite the city being in an already precarious financial position with a projected budget shortfall of about $250 million, city council members continued to vote for more spending.

    The now-former-mayor was the only one on the council to vote against the construction project, with every other council member voting to increase the deficit by another $90 million.

    Members of the Clearwater City Council have dismissed his concerns, with a council member telling Fox, the budget meeting Hibbard stormed out of was allegedly “to give direction to staff about budget priorities,” and not a formal vote to allocate funds.

    Either way, every council member agreed to spend $90 million, which means the proposal will almost certainly pass when it comes to a vote.

    Hibbard leaves localities and towns with wise words of warning: “Local government and government in general needs to be very careful with their resources and also be more creative in the way we solve problems.”

    Governments everywhere should heed his advice.

    Tyler Durden
    Mon, 04/17/2023 – 19:00

  • China Trying Its Hand At Israel-Palestine Peace
    China Trying Its Hand At Israel-Palestine Peace

    Coming off its success in getting archrivals Iran and Saudi Arabia to restore ties, China is now trying its hand at Israel-Palestine peace, after weeks of sporadic clashes between Palestinians and Israeli police in the West Bank and Jerusalem’s Al-Aqsa Mosque. 

    China’s foreign minister Qin Gang on Monday said Beijing is ready and willing to “play a constructive role” in promoting peace in the region. He also said he is “very concerned” over ratcheting tensions and violence, also after recent brief flare-ups of rocket fire from Gaza and Israeli return airstrikes.

    Via Reuters

    During prior clashes at al-Aqsa this month, the Chinese foreign ministry issued a statement saying, “We call on all parties, Israel in particular, to show calm and restraint and immediately stop all words and deeds that might heighten tensions.” This followed viral video showing police beating Muslim worshipers inside the mosque for defying a strict curfew at the Temple Mount. 

    Qin Gang’s Monday statements were conveyed in a phone call to Israeli Foreign Minister Eli Cohen, the first such call since the Chinese FM took office. The Israelis and Palestinian Authority were urged to resume peace talks as soon as possible in the call.

    As for the Israeli side, it’s still nervous over Iran-Saudi rapprochement

    “I spoke with the Chinese Foreign Minister, Qin Gang, about the danger we see in the Iranian nuclear program, a danger that is shared by many countries in the region, including countries that have diplomatic relations with Iran. The international community must act immediately to To prevent the Ayatollah regime in Tehran from obtaining nuclear capabilities,” Cohen said, according to the foreign ministry’s statement. 

    The Israelis have been chiefly concerned that the pressure and spotlight will be taken off of Iranian malfeasance in the region, which could in turn be a threat to Israel’s security.

    As Reuters points out, after Washington spent decades trying to find a solution to the conflict, there’s been no progress. “U.S.-brokered peace talks aimed at establishing a Palestinian state in the West Bank, East Jerusalem and Gaza -territories Israel captured in a 1967 war – have stalled for almost a decade and show no sign of revival,” Reuters writes.

    Some have seen China’s recent efforts at stronger diplomacy in the Middle East as a sign of waning US influence; however, the Biden administration has said it welcomes opportunities to forge greater peace and stability.

    Tyler Durden
    Mon, 04/17/2023 – 18:40

  • Hospital Sues AG Over Probe Into Transgender Care Services
    Hospital Sues AG Over Probe Into Transgender Care Services

    By Kelly Gooch of Becker’s Hospital Review

    Children’s Mercy Hospital in Kansas City, Mo., is suing Missouri Attorney General Andrew Bailey over his demand for records and testimony on gender-affirming care, The Kansas City Star reported. 

    The lawsuit, filed April 14 in Jackson County, asks a judge to deny Mr. Bailey’s investigative demands, saying the requests are a “burdensome overreach” despite “no allegations of wrongdoing,” according to the newspaper.  

    Mr. Bailey’s office made the demand for records and testimony in a letter sent in late March. In February, his office had already confirmed an investigation by Missouri agencies into whistleblower allegations against the Washington University Transgender Center at St. Louis Children’s Hospital. The whistleblower raised allegations that individuals at the transgender center had harmed hundreds of children each year, including by using experimental drugs on them. 

    Now, Mr. Bailey’s office is also looking at Children’s Mercy and made more than 50 requests for documents and information in his office’s March 24 investigative demand letter to the hospital. Requests include all instances when child abuse was reported to law enforcement and questions of whether Children’s Mercy prescribes hormone blockers for, or performs surgery on, transgender individuals, according to The Kansas City Star.

    Madeline Sieren, a spokesperson for Mr. Bailey’s office, said in a statement shared with the newspaper that Children’s Mercy “is refusing to provide even a single document to explain its practices.”

    “That is very concerning,” she said, adding that Mr. Bailey’s office looks forward to “prevailing in this request for information and learning what is truly going on.”

    Children’s Mercy argues that Mr. Bailey is not authorized to investigate and enforce medical standards under the state’s merchandising practices act, and that complying with his requests would require the hospital to violate state and federal laws, including HIPAA, according to NBC affiliate KSHB. The system also said in its suit that it has no connection to the Washington University center under investigation. Children’s Mercy is not mentioned in the allegations against Washington University Transgender Center, according to KSHB

    The lawsuit filed April 14 comes after Mr. Bailey announced emergency rules targeting gender transition procedures for minors, which take effect April 27. The emergency regulations include prohibiting gender-affirming care unless patients have at least 15 sessions with a mental health provider and have experienced at least three consecutive years of a “medically documented, long-lasting, persistent and intense pattern of gender dysphoria.” 

    Tyler Durden
    Mon, 04/17/2023 – 18:20

  • Dramatic Video Shows Large Mob Looting Compton Gas Station
    Dramatic Video Shows Large Mob Looting Compton Gas Station

    There has been a surge in lawlessness in recent weeks across several large progressive cities. The most recent incident occurred in Compton, a city in southern Los Angeles County, California, over the weekend when a large mob stormed a gas station. 

    Los Angeles-based KABC reported the “large mob” that “bum-rushed” the Arco gas station near Alondra Boulevard and Central Avenue on Saturday night stole thousands of dollars worth of merchandise. A dramatic video of the incident has gone viral on Twitter. 

    https://platform.twitter.com/widgets.js

    The Los Angeles County Sheriff’s Department told the local news station that much of the store’s merchandise was stolen in minutes. 

    Compton resident and customer of Arco, Greg Johnson, said: 

    “It’s unbelievable. Unreal. I’ve never seen anything like that happen here.” 

    Commenting on the incident is the police advocacy nonprofit organization National Police Association which tweeted: 

    “When your DA hates cops, loves criminals, and dismisses victims, and your state government is focused on de-incarceration this is what you get – Wild video shows large mob ransacking Arco gas station in Compton.” 

    We’ve pointed out to readers that lawlessness is unfolding in multiple liberal cities this spring: 

    If possible, steer clear of liberal-run cities. The growing trend of lawlessness is worrisome.

     

    Tyler Durden
    Mon, 04/17/2023 – 18:00

  • Winner Takes All: The US-China Race To AI Mastery
    Winner Takes All: The US-China Race To AI Mastery

    Authored by James Gorrie via The Epoch Times,

    AI competition may prove to be the last technology race in the world…

    The AI-powered ChatGPT is intensifying the competition between the United States and China for artificial intelligence dominance.

    The stakes couldn’t be higher.

    For the sake of clarity, ChatGPT is the AI-driven tool that can create documents, reports, and other content with just a question or a few key words. It was created by OpenAI, a Bay Area technology firm started by tech standouts such as Elon Musk, Peter Thiel, and other tech luminaries.

    The good news is how ChatGPT has brought the race for AI dominance back into the national conversation. The potential for AI technology to alter our world is difficult to overstate, even though ChatGPT technology itself barely scratches the surface of what AI technology can really do.

    AI Will Transform Everything

    Both the United States and China are fully engaged in efforts to master AI technology in its most powerful applications, which includes creating so-called “deep fakes” that put words into people’s mouths and put people in places they never were. Even those capabilities are mere shadows of what is to come.

    In a few short years at most, the way we do even the most common tasks, from manufacturing goods, transporting them, and marketing them will be radically changed. Medicines, machines, and methodologies of inquiry will all be fundamentally different under AI. AI will change every activity or industry to which it is applied, and that includes rapid advancements in biotechnology and its transformational impact on warfare.

    The AI Race Will Be the Last Race

    The race for AI mastery isn’t the first time that nations have raced to achieve technological dominance in the world. The race to reach the moon comes to mind, but it was ideological almost as much as it was technological in its impact. The race to develop the first atomic bomb during the Second World War is a better comparison. Many observers believe that AI represents nothing less than a paradigm shift for the entire world and across the spectrum of industries and scientific applications.

    That’s what makes AI a qualitatively different technology than all others. It will forever alter the relationship between humanity and machines. Humanity’s great innovation was the replication and transformation of the natural world into the mechanization and manipulation of it. It was only just over a century ago that mankind transitioned from horse to automobile, then on to flight, and then to space flight.

    A visitor watches an AI sign on an animated screen at the Mobile World Congress (MWC), the telecom industry’s biggest annual gathering, in Barcelona. (Josep Lago/AFP via Getty Images)

    A concurrent shift occurred with the communication revolution, effectively compressing time and distance by the speed of light. This not only made the world smaller and events more impactful as they’re witnessed in real time, but it also shortened reaction times.

    The AI revolution, however, is a quantum leap in technological advancement. AI is the actual dematerialization of machines and the separation of thought from humanity, neither of which has ever happened before. For the first time ever, mankind is threatened not just with destruction from a man-made device, but by our own creations replacing us altogether.

    China’s Big Data and Surveillance

    That’s no exaggeration. Philosopher Yuval Harari has warned of AI rendering humans as obsolete and “useless.” Harari isn’t the only one to see the red flags. Elon Musk has said that AI is “summoning the demon,” implying that once released, it will be beyond our control.

    That remains to be seen. But both statements are a nod to the power that AI may well yield to those who first acquire the requisite level of skill and technology. Accordingly, Russian President Vladimir Putin observed that whoever masters AI will be master of the world.

    He’s probably right, and the Chinese Communist Party has every intention of doing both.

    A Chinese man plays online games at an internet cafe in Wuhan, China, in this file photo. The Chinese regime’s cyber strategy is not fun and games, however, it is real cyber war against the United States.  (Cancan Chu/Getty Images)

    Despite ChatGPT’s impressive debut, China is ahead of the United States where it really counts: in research. According to their most recent five year plan, Chinese planners have set rigorous goals for 2030 that include investing up to $1.4 trillion in new AI infrastructure such as data centers, 5G, the industrial internet, and other enabling technologies.

    Their objective is to attain an unassailable position in AI-driven technologies, and in some key respects, such as access to big data, they’re well-positioned to reach their goal. With 1.4 billion people and one of the world’s most surveilled populations, Chinese researchers have access to the largest databases in the world with few if any privacy restrictions.

    China Rushing to Create Superior AI-Driven Military

    The time period of 2025 to 2030 has tremendous defense implications for the United States, since that’s when China’s global AI leadership is scheduled to be realized. Indeed, China’s military advancement plan calls for AI implementation by 2030, with an ambitious and comprehensive application across the entire military asset spectrum.

    China’s plan includes integrating neural networks with nuclear armed hypersonic glide vehicles, AI-enhanced automatic target recognition, auto-piloting, missile fusion, precision guidance for hypersonic platforms, maneuverability, and more. Beijing is also looking to AI for heretofore unimaginable ways to wage cyber warfare on its adversaries. The upshot is within a few years, Beijing aims to change the entire calculus of offensive strategic weapons dynamics through deep AI integration.

    Ultimately, the race for AI dominance between the United States and China may not just come down to committing investment and intellectual resources, but rather, how fast the technology can be put into action.

    It may also be a question of keeping technological intellectual property from being sold or stolen, which the U.S. government has shown repeatedly it is unable to prevent.

    Tyler Durden
    Mon, 04/17/2023 – 17:40

  • Slew Of Cities Suing Kia, Hyundai For Making Easily-Stolen Vehicles
    Slew Of Cities Suing Kia, Hyundai For Making Easily-Stolen Vehicles

    At the same time big cities are going light on criminals, many of them are choosing to instead make an example out of the manufacturers of stolen property. 

    At least eight cities have filed suit against Kia and Hyundai, seeking unspecified damages over the manufacturers’ production of cars lacking common anti-theft technology. The cities include Seattle, Milwaukee, Cleveland, San Diego and St. Louis. Individuals who bought or leased the cars are also suing the companies. 

    “Big corporations like Kia and Hyundai must be held accountable for endangering our residents and putting profit over people,” said St Louis Mayor Tishaura Jones. 

    In a suit filed in February, the city of Columbus, Ohio said, “The security system for these cars is so substandard that it can be exploited by a middle-schooler.” At risk are Kias made from 2011 to 2021, and Hyundais built between 2016 and 2021.   

    Because millions of Hyundai and Kia vehicles lack a common anti-theft device called an “immobilizer,” they can be easily started with a USB cable and a screwdriver. “Immobilizers were standard on 96% of U.S vehicles by 2015 but were standard on only 26% of 2015 model year Hyundai and Kia vehicles,” reports the Wall Street Journal

    Thanks to how-to videos circulated on TikTok and other social media platforms, thefts of Hyundai and Kia vehicles positively skyrocketed in 2021. 

    Screenshot from a video showing how easy it is to steal many Kias and Hyundais with a USB cable

    For example, Milwaukee saw Hyundai and Kia thefts soar from 895 in 2020 to 6,970 in 2021, with other cities also reporting 8- and 10-fold increases.

    To look at the risk in another way, about one in every 10 Kias registered in Chicago was stolen in 2022. Insurers have taken note — and taken action: State Farm and Progressive have each restricted and/or repriced their coverage of affected Kia and Hyundai vehicles. Sales of policies have been limited in certain parts of the country. 

    Scrambling to address the fiasco, both manufacturers distributed steering wheel locks to police departments last year and encouraged them to give them to Kia and Hyundai owners. Now, they’re implementing a software fix that has to be installed by a dealer. The software upgrade isn’t available for all models yet — and for some, it will never come.  

    Of course, even after the upgrade is installed, your vehicle is still seen as a prime target. To notify criminals that it’s been upgraded, Hyundai is giving customers window stickers. Ahead of your upgrade, you can also try bluffing: Enterprising people are selling stickers online. 

    Tyler Durden
    Mon, 04/17/2023 – 17:20

Digest powered by RSS Digest

Today’s News 17th April 2023

  • Italy's Meloni Declares 'State Of Emergency' As Illegal Immigration Quadruples
    Italy’s Meloni Declares ‘State Of Emergency’ As Illegal Immigration Quadruples

    Authored by John Cody via Remix News,

    Italy could see up to 50,000 migrants arriving a month if current trends hold…

    Italy’s Prime Minister Giorgia Meloni has announced emergency measures to combat a surge in illegal immigration. (AP Photo/Geert Vanden Wijngaert)

    Italy is responding to the number of illegal boat migrants quadrupling by declaring a nationwide state of emergency, with the government of Giorgia Meloni hoping it will help Italy cope with the growing immigration surge. However, experts are warning that if current trends hold, Italy could see up to 50,000 new arrivals a month in the summer months.

    The new measures, which are initially limited to six months, are intended to free up additional resources and money to deal with the crisis. Over Easter alone, around 2,000 people landed in several boats on the Mediterranean island of Lampedusa.

    In addition to emergency aid totaling €5 million, which will flow into the most affected regions of the country, the state of emergency will also see the construction of additional migrant shelters.

    Migrants disembark from a ship in the Sicilian port of Catania, Wednesday, April 12, 2023. (AP Photo/Salvatore Cavalli)

    So far this year, the Italian Interior Ministry has registered over 31,000 illegal entries by sea. In the same period last year, their number was 7,900. However, the real fear is that in the coming months with warmer weather, an unprecedented number of migrants could be arriving.

    “Italy risks seeing something like 50,000 people arrive on its shores a month, i.e., just under 2,000 migrants a day. In March alone, landings exceeded 13,000 units and you don’t need a calculator to project this figure into the summer when sea conditions will be optimal for a greater number of days. If these figures are projected to the end of the year, Italy runs the risk of having over 250,000 migrants as of December 31,” writes Frances Gallici for Il Giornale newspaper.

    Meloni is under pressure over immigration. Despite campaign pledges to reduce migrant flows, Italy has done little to tackle the crisis and has seen illegal immigration numbers rise dramatically. In fact, she has personally greeted migrants rescued from the sea in a photo op, leaving many conservatives questioning whether she has any appetite to tackle the issue. Her coalition partner, Matteo Salvini, is calling for stricter measures, such as the ones he instituted while serving as interior minister in 2019, which saw illegal immigration plummet.

    Salvini, who now serves as deputy prime minister, is not keeping quiet about the issue either. From Udine, he underlined that Europe “has been chatting for years, but has never lifted a finger. It’s time to demonstrate that there is a union and solidarity is not only the responsibility of Italy, Spain, Greece or Malta, because we are unable to support a thousand arrivals a day economically, culturally and socially.”

    Salvini’s League party has introduced 21 amendments to existing immigration laws that the party says will help speed up repatriations and serve as a deterrent to new arrivals.

    A government statement regarding the emergency measures announces “new structures, suitable both for sheltering as well as for the processing and repatriation of migrants who don’t have the requisites to stay” in Italy. However, building new migrant shelters may improve congestion, but it is unlikely to reduce numbers overall.

    According to the Italian Interior Ministry, the most common countries of origin for illegal immigrants are Ivory Coast (17 percent), Guinea (13 percent), Pakistan (11 percent), Egypt and Tunisia (8 percent each), Bangladesh (7 percent), Cameroon (5 percent) and Syria (4 percent). Another 22 percent are from other countries or have unclear status.

    Tyler Durden
    Mon, 04/17/2023 – 02:00

  • Escobar: All Roads Lead To Beijing
    Escobar: All Roads Lead To Beijing

    Authored by Pepe Escobar,

    This is the tale of two pilgrims following the road that really matters in the young 21st century; one coming from NATOstan and another one from BRICS.

    Let’s start with Le Petit Roi, Emmanuel Macron. Picture him with a plastic grin in his face strolling alongside Xi Jinping in Guangzhou. Following the – long and gentle – sound of classic “High Mountain and Flowing Water”, they enter the Baiyun Hall  to listen to it played by the 1000-year-old Guqin (a beautiful instrument). They taste the fragrance of 1000-year-old tea – and muse on the rise and fall of great powers in the new millennium.

    And what does Xi tell Le Petit Roi? He explains that when you hear this eternal music played by this eternal instrument, you expect to be in the company of a bosom friend; you are in synch as much as the high mountain and the flowing water. That’s the deeper meaning of the ancient tale of musicians Yu Boya and Zhong Ziqi, 25 centuries ago in the Kingdom of Chu: bosom friendship. Only bosom friends can understand the music.

    And with that, as Chinese scholars explained, Xi brought up the concept of Zhiyin. After Zhong Ziqi died, Yu Boya broke his Guqin: he thought that no one else could understand his music. Their story imprinted the term “Zhiyin”: someone who understands music, with the added meaning of close friends that can completely understand each other.

    All bets are off on whether a narcissist puppet like Macron would ever be cultured enough to understand Xi’s subtle, sophisticated message: those that get it are true soul mates. Moreover, Macron was not dispatched to Beijing and Guangzhou by his masters to do soul mating, but to try to bend Xi towards NATO on Russia/Ukraine.

    His body language is a dead giveaway – complete with crossing his arms demonstrating boredom. He may at first have been impervious to the notion that true friendship requires mutual understanding and appreciation.

    But then something extraordinary happened. Xi’s message may have touched a key spot in the tortured inner depths of the narcissist Petit Roi. What if, in international relations, mutual understanding and appreciation is the key for nations to find common ground and work together towards common goals?

    What a revolutionary notion; not exactly the Hegemon-imposed “rules-based international order”.

    Are you a true Sovereign?

    By inviting Le Petit Roi to China, and personally spending no less than 6 hours with his guest, Xi enacted millenniums-old diplomacy at its best. He reminded his guest of the turbulent history between France and the Anglo-Saxon powers; and he talked about sovereignty.

    The key subtle sub-plot: “Europe” better think hard about being subservient to the Hegemon and minimize as best as possible the massive economic turbulence when Confrontation Day with the U.S. arrives. Implied is Beijing’s priority of breaking up growing U.S. attempts to encircle China.

    So Xi treated France as a potential true Sovereign even under the EU; or somewhat splitting from EU dogma.

    Of course another key message was implied under this Confucian invitation to epistemological growth. For those not willing to be friendly to China because of complex geopolitical layers, it will never be too late for Beijing to show the less “friendly” side of the Chinese state – if the situation arises.

    Translation: if the West goes for Total Machiavelli, China will apply Total Sun Tzu. Even if Beijing would rather go for international relations under the aegis of Beauty, Goodness and Truth rather than “you’re with us or against us”, war of terror and sanctions dementia.

    So did Petit Roi have a “road to Damascus” moment? The verdict is open. He literally freaked the Hegemon out with his outburst that Europe must resist pressure to become “America’s followers”. That’s pretty much in synch with the 51 points agreed upon by Beijing and Paris, with emphasis on “legitimate security concerns of all parties”.

    The Americans got even more spooked when Macron asserted that Europe should become an independent “third superpower”. Le Petit Roi even advanced some baby steps in favor of de-dollarization (certainly under supervision of his financial masters) and not in favor of Forever Wars.

    So the Americans, in panic, had to send German 5th column Annalena “360 Degrees” Bearbock in a hurry to Beijing to try to undo Le Petit Roi’s outbursts – and reaffirm the Washington Dictates Brussels official script. No one, anywhere, paid the slightest attention.

    That came on top of the most glaring subplot of the whole tale: how European Commission dominatrix Ursula von der Leyen was treated by Beijing as worse than irrelevant. A Chinese scholar scathingly described her as “just the mouthpiece of a canine organization with no teeth. Even her bark sounds like whimpering from a terminally ill dog that is about to be euthanized.”

    The “terminally ill dog” had to go through passport control and customs (“Anything to declare”?) No diplomatic status. No official invitation. No sovereignty. And no, you cannot take the special high-speed train alongside Macron to go to Guangzhou. So here’s another message – this one quite graphic: Don’t mess with the 3,000-old Middle Kingdom ethos.

    Lula and “Zhiyin”

    Top Chinese scholars were absolutely riveted by Xi applying diplomatic stratagems that had been so useful 25 centuries ago, now re-enacted on the road-to-multipolarity global stage.

    Some are calling for a new “Strategies for the Warring States” rewritten for the 21st century. The massive round table set up by Chinese protocol with the “jungle” in the middle and Macron and von der Leyen positioned as if for a job interview was a monster hit on Weibo and We Chat. That led to endless discussions on how China is now finally able to “drive a wedge among the barbarians”.

    Compared to all this hoopla, the tale of Brazilian President Lula coming to Shanghai and Beijing reads like a graphic illustration of Zhiyin.

    Lula went for the jugular right from the start, during the inauguration of former President Dilma Rousseff  as the new president of the NDB, the BRICS bank.

    In simple, direct language that anyone from Sahara to Siberia can understand, Lula said, “Every night I ask myself why should every country need to be tied to the dollar for trade? Why can’t we trade in our own currencies? And why don’t we have the commitment to innovate?”

    Directly implied is the fact that the expanding BRICS+ should design and promote its own currency (the long, complex process has already started), on top of allowing trade in national currencies.

    Lula’s powerful message was addressed to the whole Global South. A Brazilian example is China’s ICBC setting up a clearing house in Brazil allowing direct yuan-real exchange.

    It’s no wonder that the CIA official rag, the Washington Post, foaming at the mouth, immediately issued the Deep State verdict: Lula is not obeying the “rules-based international order” diktat.

    That means the Deep State will come after Lula and his government – all over again, and will go no holds barred to destabilize it. Because what Lula said is exactly what Saddam Hussein and Colonel Gadaffi said – and tried to implement – in the past.

    So Lula will need all the help he can get. Enter, once again, “Zhiyin”.

    This is how Xi officially welcomed Lula in Beijing. Very few people around the world, non-Chinese, understand that when someone of Xi’s stature tells you, right in front of you, that you are “an old friend of China”, this is it.

    All doors are open. They trust you, embrace you, protect you, listen to you, help you in times of need and will always do their best to keep the friendship close to their hearts.

    And that ends, for now, our tale of “bosom friends” taking the road to Beijing. The BRICS friend certainly understood all there is to know. As for the NATOstan Little King dreaming of becoming a true sovereign leader, the moment of truth is knocking at his door.

    Tyler Durden
    Sun, 04/16/2023 – 23:30

  • "Newly Discovered Seafloor Seep" Off Oregon Coast On Fault Line May Be Harbinger To Major Quake
    “Newly Discovered Seafloor Seep” Off Oregon Coast On Fault Line May Be Harbinger To Major Quake

    “Chemically distinct liquid shooting up from the seafloor” has been detected by researchers on a stretch of a 600-mile-long fault line in the Pacific Ocean, which is situated only 50 miles away from the Oregon coast, and could potentially trigger a catastrophic earthquake in the Pacific Northwest. 

    Pythia’s Oasis is located on the midcontinental slope ~80 km west of Newport, Oregon

    “Pythia’s Oasis is a newly discovered seafloor seep on the Central Oregon segment of the Cascadia Subduction Zone, where focused venting emits highly altered fluids ~9°C above the background temperature. The seep fluid chemistry is unique for Cascadia and includes extreme enrichment of boron and lithium and depletion of chloride, potassium, and magnesium. We conclude that the fluids are sourced from pore water compaction and mineral dehydration reactions with minimum source temperatures of 150° to 250°C, placing the source at or near the plate boundary offshore Central Oregon,” researchers at the University of Washington wrote in a study. 

    This sonar image of the Pythias Oasis site shows bubbles rising from the seafloor about two-thirds of a mile deep and 50 miles off Newport, Oregon. These bubbles are a byproduct of a unique site where warm, chemically distinct fluid gushes from the seafloor. Researchers believe this fluid comes directly from the Cascadia megathrust zone, or plate boundary, and helps control stress buildup between the two plates. Philip et al./Science Advances

    Researchers said the seep is nearly a mile below the surface of the ocean at the plate boundary and was first observed in 2015. They fear the leak could be a sign of future earthquake activity:

    “The megathrust fault zone is like an air hockey table.

    “If the fluid pressure is high, it’s like the air is turned on, meaning there’s less friction and the two plates can slip. If the fluid pressure is lower, the two plates will lock – that’s when stress can build up,” co-author Evan Solomon, a University of Washington associate professor of oceanography who studies seafloor geology, wrote. 

    Video of an underwater drone surveying the seafloor seeps. 

    The Cascadia Subduction Zone parrels several major West Coast cities, including Seattle and Portland, Oregon, as well as Northern California and Vancouver Island in Canada. And researchers fear the seismically quiet fault line could be awakened and “unleash a magnitude-9 earthquake in the Pacific Northwest.” 

    Tyler Durden
    Sun, 04/16/2023 – 23:00

  • 10 Years On – The Boston Bombing Backstory
    10 Years On – The Boston Bombing Backstory

    Authored by Lloyd Billlingsley via AmGreatness.com,

    Local police, not the FBI, are the true warriors against terrorism…

    Ten years ago, at the April 15, 2013 running of the Boston Marathon, Tamerlan and Dzhokhar Tsarnaev planted pressure-cooker bombs that wounded more than 250 and killed Lingzi Lu, 23, Krystle Campbell, 29, and Martin Richard, only eight years old.

    The 2016 film “Patriots Day” dramatizes the story but doesn’t start at the beginning. 

    A year and a half before the bombing, the FBI ignored warnings from Russia about the Tsarnaevs’ terrorist connections. In the film, Kevin Bacon plays special agent Richard DesLauriers, in charge of the “counterterrorism investigation,” after the fact.  

    Local police, not the FBI, go after the bombers and manage to take down Tamerlan. Dzhokhar hid in a boat and suffered several wounds, including one to the mouth that may have been self-inflicted

    The brothers had murdered MIT police officer Sean Collier, as U.S. Attorney William Weinreb explained, “shooting him in the head at point-blank range twice in the side of the head and once right between the eyes.” 

    That brought the death toll to four. As they buried their dead, Bostonians had cause to wonder why the FBI failed to learn from previous bombings. 

    In 1993, the FBI failed to prevent Islamic terrorists from detonating approximately 1,200 pounds of explosives at the World Trade Center. The blast claimed the lives of John DiGiovanni, Robert Kirkpatrick, Stephen Knapp, William Macko, Wilfredo Mercado, and Monica Rodriguez Smith. The blast wounded more than 1,000, including 88 firefighters, 35 police officers, and a medical worker. 

    Three years later, at the 1996 Olympics in Atlanta, the FBI failed to stop Eric Robert Rudolph from planting a bomb, packed with nails, that killed Alice Hawthorne of Albany, Georgia. Turkish cameraman Melih Unzonyol suffered a fatal heart attack and the bomb wounded more than 100 others. 

    The FBI then tried to frame security guard Richard Jewell, subject of the eponymous Clint Eastwood film, who tried to evacuate the area before the blast. For his part, Rudolph had an example to follow. 

    Back in 1978 Ted Kaczynski mailed a bomb that wounded Northwestern University professor Buckley Crist. Kaczynski’s bombs also wounded United Airlines president Percy Wood, Vanderbilt University secretary Janet Smith, UC Berkeley electrical engineering professor Diogenes Angelakos, engineering student John Hauser, University of Michigan professor James McConnell, his assistant Nicklaus Suino, and computer store owner Gary Wright. 

    Kaczinski’s explosive devices maimed renowned computer scientist David Gelernter in 1993 and killed computer store owner Hugh Scrutton, advertising executive Thomas Mosser and lobbyist Gilbert Murray, in 1994. The so-called Unabomber had been active for 17 years, during the administrations of Jimmy Carter, Ronald Reagan, George H. W. Bush, and Bill Clinton—all without detection by the FBI. 

    Only with the aid of Kaczynski’s brother, who identified the bomber through his public manifesto, was the FBI able to track down Ted. He pleaded guilty in 1998 and was sentenced to life without parole. 

    Three years later, the FBI failed to prevent the attack of September 11, 2001, with 3,000 casualties, billions in damages, and suffering that endures to this day. It remains unclear whether any FBI bosses were disciplined, demoted, or discharged over that deadly failure. It was hardly the bureau’s only lapse. 

    The FBI had been tracking Army psychiatrist Maj. Nidal Hasan, a self-described “soldier of Allah” who was communicating with al Qaeda terrorist Anwar al Awlaki about killing Americans. Someone in the FBI’s Washington office dropped the surveillance. 

    On November 5, 2009 at Fort Hood, Hasan murdered 13 unarmed American soldiers, including Pvt. Francheska Velez. She was pregnant and pleaded “My baby! My baby,” before Hasan shot her through the chest, bringing the death toll to 14 with the death of her unborn child. 

    Hasan was only stopped when civilian police officers Kim Munley and Mark Todd returned fire and wounded the mass murderer. Munley was wounded in both legs and a wrist but “she stayed upright and kept firing at the charging gunman.” Had Munley not done so, Hasan would have claimed many more lives. 

    The FBI played no role in the takedown.

    There is still no word if any FBI bosses were ever disciplined, demoted, or dismissed for the lapses that enabled this massacre, the worst ever on a U.S. military base. The broader public also stood at risk. 

    On December 2, 2015, in San Bernardino, California, Syed Farook and Tashfeen Malik murdered 14 people at a holiday office party. The FBI did nothing to prevent the attack and played no role in the takedown. The fleeing terrorists fired at least 81 rounds at police officers, who shot the terrorists dead with no loss of civilian life. 

    In 2013, the FBI twice interviewed Omar Mateen about his connections to the Islamic State, and questioned him again the following year. Knowing his terrorist connections, the FBI did nothing to prevent Omar Mateen from murdering 49 people at the Pulse nightclub in Orlando, Florida, on June 12, 2016. Orlando police, not the FBI, took down the mass murderer. 

    The composite character president David Garrow described in Rising Star: The Making of Barack Obama, downplayed Islamic terrorism and cast his domestic opposition as the true threat. That is also true of Joe Biden, as the Delaware Democrat made perfectly clear in an angry speech last September 1. 

    For the FBI, just about everybody less-than-worshipful of Joe Biden is a domestic terrorist or violent extremist. The bureau has even deployed informers in Catholic churches. FBI boss Christopher Wray is “aghast” and wants to “figure out how we can make sure something like this doesn’t happen again.” 

    If Catholics, Baptists, or Presbyterians thought that meant the FBI would do it more it would be hard to blame them. The FBI has never been held to account and, indeed, is about to be rewarded with a new headquarters bigger than the Pentagon

    With actual terrorism, the FBI prefers to look the other way and leave the front-line combat to the police, as in Boston in 2013. Ten years later in 2023, actual domestic terrorists are again on the march. 

    Audrey Hale, a woman who thought she was a man, planned an attack on the Covenant School for months, without detection by the FBI. Hale murdered Evelyn Dieckhaus, 9, Mike Hill, 61, William Kinney, 9, Katherine Koonce, 60, Cynthia Peak, 61, and nine-year-old Hallie Scruggs, daughter of Chad Scruggs, senior pastor at the Covenant Presbyterian Church. 

    Nashville police officers Michael Collazo and Rex Engelbert took down Hale before she could take more innocent lives. The FBI is now controlling Hale’s manifesto, which at this writing is still unreleased. 

    As with his statement after Fort Hood, Joe Biden failed to name or condemn the shooter, and failed to name a single victim. Under the Delaware Democrat, every year is the year of living dangerously. 

    *  *  *

    Go Emma, run great tomorrow, we’re all very proud of you…

    Tyler Durden
    Sun, 04/16/2023 – 22:30

  • These Are The Largest Bond Markets In The World
    These Are The Largest Bond Markets In The World

    In 2022, the global bond market totaled $133 trillion.

    As one of the world’s largest capital markets, debt securities have grown sevenfold over the last 40 years. As Visual Capitalists Dorothy Neufeld details below, government and corporate debt sales across major economies and emerging markets have fueled this dramatic growth. Over the last three years, China’s bond market has grown 13% annually.

    Based on estimates from the Bank for International Statements, this graphic shows the largest bond markets in the world.

    Total debt numbers here include both domestic and international debt securities in each particular country or region. BIS notes that international debt securities are issued outside the local market of the country where the borrower resides and cover eurobonds as well as foreign bonds, but exclude negotiable loans.

    Ranked: The World’s Top Bond Markets

    Valued at over $51 trillion, the U.S. has the largest bond market globally.

    Government bonds made up the majority of its debt market, with over $26 trillion in securities outstanding. In 2022, the Federal government paid $534 billion in interest on this debt.

    China is second, at 16% of the global total. Local commercial banks hold the greatest share of its outstanding bonds, while foreign ownership remains fairly low. Foreign interest in China’s bonds slowed in 2022 amid geopolitical tensions in Ukraine and lower yields.\

    *Represent countries where total debt securities were not reported by national authorities. These figures are the sum of domestic debt securities reported by national authorities and/or international debt securities compiled by BIS.

    Data as of Q3 2022.

    As the above table shows, Japan has the third biggest debt market. Japan’s central bank owns a massive share of its government bonds. Central bank ownership hit a record 50% as it tweaked its yield curve control policy that was introduced in 2016. The policy was designed to help boost inflation and prevent interest rates from falling. As inflation began to rise in 2022 and bond investors began selling, it had to increase its yield to spur demand and liquidity. The adjustment sent shockwaves through financial markets.

    In Europe, France is home to the largest bond market at $4.4 trillion in total debt, surpassing the United Kingdom by roughly $150 billion.

    Banks: A Major Buyer in Bond Markets

    Like central banks around the world, commercial banks are key players in bond markets.

    In fact, commercial banks are among the top three buyers of U.S. government debt. This is because commercial banks will reinvest client deposits into interest-bearing securities. These often include U.S. Treasuries, which are highly liquid and one of the safest assets globally.

    As we can see in the chart below, the banking sector often surpasses an economy’s total GDP.

    As interest rates have risen sharply since 2022, the price of bonds has been pushed down, given their inverse relationship. This has raised questions about what type of bonds banks hold.

    In the U.S., commercial banks hold $4.2 trillion in Treasury bonds and other government securities. For large U.S. banks, these holdings account for almost 24% of assets on average. They make up an average 15% of assets for small banks in 2023. Since mid-2022, small banks have reduced their bond holdings due to interest rate increases.

    As higher rates reverberate across the banking system and wider economy, it may expose further strains on global bond markets which have expanded rapidly in an era of dovish monetary policy and ultra-low interest rates.

    Tyler Durden
    Sun, 04/16/2023 – 22:00

  • Anheuser-Busch Transitions Into Damage Control Mode – And People Aren't Buying It
    Anheuser-Busch Transitions Into Damage Control Mode – And People Aren’t Buying It

    After rolling out a Bud Light ad campaign featuring flamboyant transgender influencer Dylan Mulvaney – whose ditzy caricature of a woman mocks decades of actual progress by feminists (who have apparently been wokeshamed into silence), Anheuser-Busch’s damage control team kicked into action on Friday after the Mulvaney ad sparked a massive backlash.

    “We never intended to be part of a discussion that divides people,” said Anheuser-Busch InBev CEO Brendan Whitworth in a carefully crafted, heavily focus-grouped press release which failed to mention Mulvaney, Bud Light, or transgender issues. “We are in the business of bringing people together over a beer.”

    I care deeply about this country, this company, our brands and our partners. I spend much of my time traveling across America, listening to and learning from our customers, distributors and others,” the statement continued. “Moving forward, I will continue to work tirelessly to bring great beers to consumers across our nation.”

    Translation: Let’s all forget about this over a beer.

    The company then went with a ‘hey fellow beer drinkers’ ad campaign, tweeting “TGIF” along with a picture of a Bud Light can. It was received about as well as one would imagine… with a massive ratio of people commenting vs. ‘liking’ it.

    The campaign was mocked mercilessly.

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    More via The Epoch Times (emphasis ours),

    Brand Damage

    Some analysts and investors said that the damage likely won’t sink Anheuser-Busch, but the damage has been done to the Bud Light brand.

    The logo of Anheuser-Busch InBev pictured outside the brewer’s headquarters in Leuven, Belgium, on Feb. 28, 2019. (Francois Lenoir/Reuters)

    “I simply don’t understand why they hired the person who was doing the marketing,” Oxygen Financial CEO Ted Jenkin told Fox News Thursday. “I mean, if your target customer is Kid Rock, and then all of a sudden you decide to go to RuPaul, that just doesn’t make any sense at all.

    Because Bud Light generally targets “blue-collar workers and younger adults that are 25 to 29 years old,” the campaign should be problematic for the firm. “So, I don’t think that this one campaign is going to colossally destroy the brand,” it said.

    “But certainly short term, it puts doubt into their loyal drinkers of Bud Light to say, ‘Do I want to continue to be drinking Bud Light based upon who they’re showing representing Bud Light?’” he asked. “Anytime a company puts on a national spokesperson that has backlash, it certainly can affect your business.”

    A research fellow with the National Center for Public Policy Research wrote this week that Anheuser-Busch is owned by InBev, a multinational conglomerate worth tens of billions of dollars. One product, he wrote, won’t do a huge amount of damage to the brand or value.

    But that seems like a plausible result. The Venn diagram of people interested in drinking Bud Light and those eager to support the issue at the sharp edge of the wokist culture war is pretty much just two circles vaguely near one another,” Shepard wrote. “While InBev investors won’t suffer too much, distributors of AB products and others who do business with the company surely will.”

    Shepard further stipulated in the article that the “bottom-line effects of wokeness are clearer at other American companies that have abandoned fiduciary duty for politics,” referring to large corporations’ having adopted left-wing talking points and narratives around race and sex.

    Tyler Durden
    Sun, 04/16/2023 – 21:44

  • Is Free Speech Killing Us? FDA Commissioner Declares "Misinformation" A Medical Risk
    Is Free Speech Killing Us? FDA Commissioner Declares “Misinformation” A Medical Risk

    Authored by Jonathan Turley,

    Last year, we discussed the declaration of WHO Director-General Tedros Adhanom Ghebreyesus that censorship was needed to combat what he called the “infodemic.” It was a jarring position given the censorship of experts and scientists who have now been vindicated in raising questions over mask protection to natural immunities to school closings to the origins of Covid 19. Nevertheless, U.S. Food and Drug Administration Commissioner Robert Califf added his own voice to call for censorship. Califf declared that life expectancy rates are being suppressed due to “misinformation.” His call for action against ill-defined “disinformation” or “misinformation” is being echoed throughout the Biden Administration.

    In a CNBC interview,  Califf lashed out at “health misinformation” which he said was one of his top priorities to address through “specific authorities at FDA, FTC and other areas.”

    Califf noted:

    “You think about the impact of a single person reaching a billion people on the internet all over the world, we just weren’t prepared for that. We don’t have societal rules that are adjudicating it quite right, and I think it’s impacting our health in very detrimental ways.”

    He does not elaborate on what would be those “societal rules” for “adjudication” of access to information. However, it holds a familiar ring for free speech advocates.

    In recent months, the Twitter Files revealed an extensive and secret effort by the FBI and other agencies to censor citizens on social media. I testified on that effort. New emails uncovered in the ongoing Missouri v. Biden litigation reportedly show that the Biden Administration’s censorship efforts extended to Facebook to censor private communications on its WhatsApp messaging service.

    We also know of backchannel communications with the CDC and other agencies.

    As officials like Califf call for continued crackdowns, there is no recognition of how the government worked to silence opposing views that have been vindicated in recent months.

    For years, scientists faced censorship for even raising the lab theory as a possible explanation for the virus. Their reputations and careers were shredded by a media flash mob. The Washington Post declared this a “debunked” coronavirus “conspiracy theory.” The New York Times’ Science and Health reporter Apoorva Mandavilli was calling any mention of the lab theory “racist.”

    When a Chinese researcher told Fox News that this was man-made, the network was attacked and the left-leaning PolitiFact slammed her a “pants on fire rating.”

    The mask mandate and other pandemic measures like the closing of schools are now cited as fueling emotional and developmental problems in children. The closing of schools and businesses was challenged by some critics as unnecessary. Many of those critics were also censored. It now appears that they may have been right. Many countries did not close schools and did not experience increases in Covid. However, we are now facing alarming drops in testing scores and alarming rises in medical illness among the young.

    The point is only that there were countervailing indicators on mask efficacy and a basis to question the mandates. Yet, there was no real debate because of the censorship supported by many Democratic leaders in social media. To question such mandates was declared a public health threat and what the WHO called our “infodemic.”

    A lawsuit was filed by Missouri and Louisiana and joined by leading experts, including Drs. Jayanta Bhattacharya (Stanford University) and Martin Kulldorff (Harvard University). Bhattacharya previously objected to the suspension of Dr. Clare Craig after she raised concerns about Pfizer trial documents. Those doctors were the co-authors of the Great Barrington Declaration, which advocated for a more focused Covid response that targeted the most vulnerable population rather than widespread lockdowns and mandates. Many are now questioning the efficacy and cost of the massive lockdown as well as the real value of masks or the rejection of natural immunities as an alternative to vaccination.  Yet, these experts and others were attacked for such views just a year ago. Some found themselves censored on social media for challenging claims of Dr. Fauci and others.

    The media has quietly acknowledged the science questioning mask efficacy and school closures without addressing its own role in attacking those who raised these objections.

    What is most striking about Califf’s comments is the failure to address how censorship in the last three years may have increased public health risks by suppressing opposing or dissenting scientific views. Indeed, just this week, a new British study came out directly refuting CDC guidance on masks and suggesting that, while not appreciably reducing the risk of serious Covid symptoms, masks may have caused health problems. Other studies have rejected the mask efficacy argument though this remains a matter of intense debate.

    The point is that there is now a debate after social media companies allowed people to discuss these views and the media is no longer labelling dissenters as conspiracists or racists.

    Before we continue to make these government efforts a top priority, we should have a public debate over the means used to combat misinformation and what constitutes misinformation. That should start with a full investigation of past government efforts to censor or blacklist individuals or groups.

    Tyler Durden
    Sun, 04/16/2023 – 21:30

  • FAA Grants SpaceX Launch License For Starship Orbital Flight
    FAA Grants SpaceX Launch License For Starship Orbital Flight

    The Federal Aviation Administration granted SpaceX final regulatory approval to launch the world’s biggest rocket on Monday morning. 

    “After a comprehensive license evaluation process, the FAA determined SpaceX met all safety, environmental, policy, payload, airspace integration, and financial responsibility requirements,” the FAA said in a statement, adding, “The license is valid for five years.” 

    Elon Musk’s SpaceX said the Starship spacecraft and Super Heavy booster are ready for launch at its facility in Boca Chica, Texas, beginning at 0700 CT for a 150-minute window.

    SpaceX explained this Starship launch is the first “integrated flight test.” This means it’s the first time the Super Heavy rocket and Starship will have taken off together. 

    If the launch is successful, the Super Heavy booster will attempt landing at SpaceX’s base, while Starship will attempt a splashdown in the Pacific Ocean near the Hawaiian island of Kauai.

    SpaceX developed Starship to haul people and cargo to the moon, Mars, and deep space.

    Over the weekend, Musk retweeted images of the Starship rocket on the launch pad. 

    The billionaire recently said the Starship test has a 50% chance of succeeding on its first orbital flight. 

    Tyler Durden
    Sun, 04/16/2023 – 21:00

  • "Nowhere Else In The World Was Such Open Dissent Amongst Appointed Leaders On Display"
    “Nowhere Else In The World Was Such Open Dissent Amongst Appointed Leaders On Display”

    By Eric Peters, CIO of One River Asset Management

    “Rather than embracing the promise of new technology as we have done in the past, here we propose to embrace stagnation, force centralization, urge expatriation, and welcome extinction of new technology,” said SEC Commissioner Hester Pierce, a registered Republican, first nominated to the SEC by Obama in 2015, appointed by Trump in 2017, and will serve through 2025.

    “Accordingly, I dissent,” she said, directly to Chairman Gensler and the three additional Commissioners who collectively lead the SEC.

    “No longer does this Commission consider the real-world effects of its exercise of authority. No longer does this Commission think creatively about regulatory alternatives that advance the Commission’s mission while preserving space for potentially disruptive innovation. No longer does this Commission worry that regulatory bullheadedness often produces absurd consequences,” said Hester, a courageous public servant in a world short of inspired leaders, determined to call things as she sees them.

    “Rather, today’s Commission aggressively expands its regulatory reach to solve problems that do not exist. Today’s Commission treats its basic approach to exchange regulation as something that must not – indeed cannot – be altered to allow room for new technologies or for new ways of doing business,” she said.

    “The release sends a message that we are uninterested in facilitating innovation and competition in the financial markets and instead seek to protect incumbents. Accordingly, although I am generally supportive of reopening comment periods where it is clear that the Commission will benefit from further good faith engagement with the public, I cannot support what the Commission is doing in this release,” said Hester.

    Nowhere else in the world was such open dissent amongst appointed leaders on display. And it doesn’t matter whether you agree or not with Pierce’s position on the matter of distributed ledger technological innovation, it is the spirit and substance of her public stand that reminds us of what makes America great.

    For the complete SEC Commissioner Hester Pierce speech [click here].

    Tyler Durden
    Sun, 04/16/2023 – 20:30

  • CVS 'Gender Transition' Guide Requires Use Of Preferred Pronouns, Sharing Bathrooms
    CVS ‘Gender Transition’ Guide Requires Use Of Preferred Pronouns, Sharing Bathrooms

    CVS has issued ‘gender transition guidelines’ which put employees on notice that people must be addressed by their preferred pronouns and names, and that they may use whichever restroom or locker room they wish, whether or not they identify as transgender, Fox Business reports.

    According to the guidelines, employees are notified that they may be entitled to medial leave “under the Family and Medical Leave Act, state law, and/or CVS Health policy,” while transitioning employees are encouraged to tell their immediate supervisor about their decision so that the company “can provide support and to make your transition as smooth as possible.”

    “You may also wish to have appropriate medical care to support your transition, including treatments such as hormone replacement therapy and/or gender confirmation surgery,” the guide continues.

    “During and after the transition has occurred, CVS Health encourages you to continue to partner with your Leader and your Advice & Counsel representative, and to immediately report any issues that you might have with your employment, your work environment, and/or your Leader, co-workers, clients, and customers.”

    In a section titled, “Guidelines for Supporting a Colleague who is Transitioning,” the guide encourages employees to be an ally by asking colleagues to let them know if they say or do anything that makes them uncomfortable. It also urges employees to not make assumptions about a person’s gender.

    It says employees should become an ally to make a positive impact on a co-worker’s life, become an inclusive leader, champion and celebrate all aspects of diversity and to show compliance with the CVS Health Equal Employment, Affirmative Action, AntiDiscrimination, Anti-Harassment, and Anti-Retaliation Policy. -Fox Business

    According to the company’s Affirmative Action, AntiDiscrimination, Anti-Harassment, and Anti-Retaliation Policy, the company is “committed to the principle of equal employment opportunity and takes affirmative action to recruit, hire, employ, develop, compensate, promote and advance in employment based on an individual’s job-related qualifications, abilities, and job performance,” and prohibits discrimination and harassment.

    Transgender CVS employees are encouraged to include their preferred pronouns in email signatures, and let people know during meeting introductions. After this is done, co-workers are instructed not to refer to the individual by other pronouns or their previous name.

    “People use different terms to refer to themselves, but some terms are universally considered disrespectful and violate CVS’s policy against discrimination and harassment,” states the guide. “Terms like transgender, trans-male/trans-female, non-binary or ‘male’ or ‘female’ should be used.”

    What’s more, according to company policy, all workers “should determine the most appropriate” bathroom and locker room based on their gender identity.

    “Any colleague, customer, or patient—transgender or otherwise–may choose to use the restroom and/or locker room that is appropriate to the gender they identify with,” according to the guide, which adds that transgender employees have “Any colleague, customer, or patient—transgender or otherwise–may choose to use the restroom and/or locker room that is appropriate to the gender they identify with.”

    Tyler Durden
    Sun, 04/16/2023 – 20:00

  • US Appeals Court Judge Rejects ProPublica Story On Justice Clarence Thomas
    US Appeals Court Judge Rejects ProPublica Story On Justice Clarence Thomas

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    Two appeals court judges recently weighed in on reporting around Supreme Court Justice Clarence Thomas and that he and his wife were gifted with trips and vacations from a billionaire friend for decades.

    Associate Justice Clarence Thomas sits during a group photograph of the justices at the Supreme Court in Washington on April 23, 2021. (Erin Schaff/Pool/AFP via Getty Images)

    Judge Thomas Hardiman of the United States Court of Appeals for the Third Circuit dismissed the notion of a “scandal” surrounding Supreme Court Justice Clarence Thomas. Last week, left-wing outlet ProPublica published an article in which “experts,” some unnamed, argue Justice Thomas violated disclosure obligations by neglecting to report luxury gifts he received from billionaire friend Harlan Crow.

    “The thing that I thought was weird about the Justice Thomas thing is the ‘scandal,’ to use your word, there was no intimation at any time, ever, that his billionaire friend ever had any business before the Supreme Court. So, how’s he helping his friend? He’s not even in a position to help his friend because his friend had exactly zero cases in the Supreme Court,” Judge Hardiman said in response to a question asked by an undergraduate during this week’s event, according to the National Review.

    He was making reference to a ProPublica article published earlier this month that cited several unnamed experts who claimed that Thomas violated disclosure obligations by not reporting luxury gifts he received from billionaire Harlan Crow, a friend of his. The move prompted some Democratic lawmakers—namely Rep. Alexandria Ocasio-Cortez—to propose impeaching Thomas.

    “You know, I decide cases involving lawyers in Pittsburgh. And I know these lawyers, some of them are former law partners of mine. I belong to organizations with them, I go to lunch with them. Should I not hear their cases? If you have such suspicion about our integrity, you could really end up in a situation where judges can’t even do their jobs because at some point you’re attached to everybody,” Hardiman continued.

    If someone wanted to make me look bad and I happened to rule in favor of a client in an immigration case that was argued by my former law clerk, oh, there would be a big exposé, ‘oh, Hardiman chose partiality to his law clerk,’” Hardiman then said.

    The judge then gave an example:  “I’ve had my former law clerks stand up in court and argue cases. And I don’t think they’ve ever won a case. And it’s not because they’re not brilliant lawyers. They are. But usually they’re doing pro bono immigration cases, and sadly, for the immigrants, those cases can be very difficult to win.”

    Judge James Ho of the U.S. Court of Appeals for the Fifth Circuit said that there is a difference between “an actual instance of corruption” and “the mere perception” during remarks he made during the event. “I think the appearance issue is absolutely important” as “the judiciary basically rests on its credibility,” he said, according to the National Review.

    Judge Thomas Hardiman, a federal judge on the U.S. Court of Appeals for the Third Circuit is seen in Washington, on Nov. 17, 2016. (AP Photo/Cliff Owen)

    The judiciary, like any human institution, isn’t perfect, because none of us are perfect,” Ho added.

    Earlier in the month, a report published by nonprofit news organization ProPublica, which receives some funding from billionaire financier George Soros, said that Thomas had accepted luxury trips almost every year over the past 20 years or so without disclosing them.

    Read more here…

    Tyler Durden
    Sun, 04/16/2023 – 19:30

  • All Hell Breaks Out In Chicago As Hundreds Of Teenagers Wreak Havoc
    All Hell Breaks Out In Chicago As Hundreds Of Teenagers Wreak Havoc

    A trend of lawlessness has unfolded in cities run by progressive leaders this spring. The latest incident occurred on Saturday night in Downtown Chicago, where hundreds of teenagers wreaked havoc by smashing car windows and destroying public and private property. They also attempted to enter Millennium Park, which prompted a significant police response. There was even a shooting that resulted in multiple injuries. 

    FOX 32 Chicago reported massive crowds of teenagers that unleashed chaos in the downtown district last night. Besides the rogue kids smashing and breaking anything in their sight, there were reports of shots fired and two teenagers wounded by gunfire near the corner of Madison and Michigan. 

    Even FOX 32 said the chaos last night was “unsafe to keep our news crew on the scene.” There was even footage of kids jumping on top of a bus.  

    Watch the dramatic video of Chicago’s youth ‘gone wild.’ 

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    “This is the second time this weekend that a group of rowdy teenagers has prompted a police response,” the local media outlet pointed out. 

    The culture of lawlessness continues, and it’s not even summer. The video is proof of the rapid moral decay of the younger generation that has been educated in failed liberal institutions. 

    Meanwhile, Chicago’s new mayor, Brandon Johnson, is another soft-on-crime progressive who comes after Lori Lightfoot was ejected from office for failing to make the city safer. 

    Chicago is not the only city dealing with out-of-control youth. Another failed liberal city, Baltimore, experienced similar chaos just one week ago. 

    https://platform.twitter.com/widgets.js

    What’s the pattern here? Progressives are transforming their cities into lawless hellholes. 

    And the response?.. People are leaving these dumps for safer areas. Even Walmart closed half of its stores in Chicago last week because of the deteriorating environment. 

    Tyler Durden
    Sun, 04/16/2023 – 19:00

  • Even ChatGPT Can Figure Out What Is Going On
    Even ChatGPT Can Figure Out What Is Going On

    By Eric Peters, CIO of One River Asset Management

    Answers

    “What happens when governments stifle innovation?” I asked.

    GPT4 answered: “When governments stifle innovation, it can lead to reduced economic growth, decreased competitiveness, and a slower pace of technological advancement. Businesses may face regulatory barriers, restricted access to resources, and limited incentives for research and development. As a result, talented individuals might seek opportunities in more innovation-friendly environments, causing a brain drain and hindering the nation’s progress.”

    “Why would governments ever stifle innovation?”

    GPT4 answered: “Governments may inadvertently stifle innovation due to bureaucracy, excessive regulation, or protectionist policies aimed at preserving domestic industries. They might also prioritize short-term political gains over long-term economic benefits, leading to misguided policies. Additionally, some governments may lack the foresight to recognize the potential of new technologies or may act in response to pressure from special interest groups resistant to change.”

    “When governments stifle innovation, what is the best way to correct such mistakes?”

    GPT4 answered: “It is crucial to identify and eliminate barriers to innovation, such as excessive regulations and bureaucracy. Governments should establish policies that incentivize research and development, invest in education, and promote collaboration between the public and private sectors. Encouraging open dialogue, fostering competition, and ensuring transparent and evidence-based decision-making can help create a more innovation-friendly environment.”

    “Why do governments avoid near-term pain, even if that amplifies longer-term costs?”

    GPT4 answered: “Governments often prioritize near-term pain avoidance due to electoral cycles, political pressures, and the need for public support. Short-term benefits may secure votes or address immediate crises, even at the expense of long-term consequences. The complexity and uncertainty of long-term issues are challenging for policymakers. This short-termism can hinder the development of policies that serve society’s broader interests in the long run.”

    “Why do individuals do the same?”

    GPT4 answered: “Humans tend to avoid near-term pain due to cognitive biases and psychological factors. Present bias, for instance, makes immediate rewards and consequences appear more significant than future ones. Additionally, humans have difficulty accurately predicting long-term outcomes, leading to a focus on short-term gratification. Uncertainty, fear of failure, and aversion to change also contribute to this preference for avoiding short-term discomfort, even if it compromises long-term success.”

    Anecdote

    “Why are we so often our own worst enemies?” I asked myself. I didn’t bother asking GPT4, it couldn’t possibly give me the real answer. We feed these large language models everything we’ve ever learned, which is why they tell us what we already know. And this question remains as deep a mystery as any in the universe.

    I first started to appreciate it as a young trader. The profession requires one to make frequent decisions, many of which are wrong. Both winning and losing trades can be cut short or left to run. And the profit/loss score card cannot be denied. In such a pursuit, each decision should be made coldly, rationally, with the sole objective to maximize profit while minimizing loss.

    Yet there are times when traders act otherwise. We trade out of fear, greed, arrogance, stubbornness, narcissism, boredom, addiction. We add to losing longs in the irrational belief that by buying more, we may reverse a declining market. Or vice versa. We swear that if the market lets us get away with it one last time, we’ll never do it again. Sometimes a Hail Mary trade may work, even spectacularly.

    And so reckless behavior is occasionally rewarded. But of course, in time, the market hunts down those unable to control their self-destructive impulses and ruins them. The ones who survive this battle with themselves learn to make decisions that are hard, humbling, and exploit the behavioral weaknesses and lack of discipline in others. Naturally, such elemental flaws manifest in every aspect of who we are; personally, professionally, politically. They are the source of the world’s infinite complexity, our pain, political dysfunction too.

    It is why we must celebrate those rare dissenters with the courage to take a stand, forcing us to face our reflection when we succumb to our inner enemies. But these mysterious flaws are also the source of our sublime beauty. If we optimized for cold rationality, we would be utterly boring algorithms. Perhaps like the AIs we are creating. Which I suspect will never fully appreciate us.     

    Tyler Durden
    Sun, 04/16/2023 – 18:30

  • South Korea Fires Warning Shots At North Korean Patrol Boat That Breached Boundary
    South Korea Fires Warning Shots At North Korean Patrol Boat That Breached Boundary

    A dangerous live-fire incident has been reported in a disputed sea border patrolled by both North and South Korea on Saturday. 

    Reportedly a North Korean vessel had been pursuing a Chinese fishing boat, according to the military statement, and subsequently retreated after warning shots were fired from a South Korean military patrol boat.

    Illustrative, via Reuters

    “Our military maintains decisive battle posture while monitoring the enemy’s movements in preparation for potential provocations regarding NLL (Northern Limit Line) violations by North Korean patrol boats,” the South Korean Joint Chiefs of Staff said in a Sunday Statement, confirming the prior day’s incident.

    Tensions are already soaring after a series of joint US-South Korea military drills which have been answered with the north conducting a series of major weapons tests, including of ballistic missiles and what’s been described as an underwater nuclear drone.

    Saturday’s incident on the seas may have involved a collision, as The Hill describes:

    The disputed sea border between the two countries, the Northern Limit Line, has served as a theater for provocation and naval showdowns in the past. South Korean officials said one of its ships came into “minor” contact with a Chinese vessel due to poor visibility, but said there were only slight injuries reported.

    As for Pyongyang’s spate of recent missile tests, Time has analyzed missile launch data by North Korea and compared it to last year’s:

    Last year was already record-breaking: data from the James Martin Center for Nonproliferation Studies, which has been documenting North Korean missile launches since 1984, showed 68 tests in 2022—10 times more than in 2021. And there are no signs that the country plans to let up.

    Already the country is on track to surpass this: 

    On Thursday morning local time, prompting a temporary evacuate-or-seek-shelter warning in Japan, North Korea reportedly fired a ballistic missile toward the East Sea—Pyongyang’s 12th test of the year so far, according to a review by TIME of reports by North Korea’s state news agency, South Korea’s military, and international media.

    Regional US ally Japan in particular has been fearful of the increasing tests ordered by the Kim Jong-Un regime. Upon a last Thursday launch, Japan issued an evacuation order for a northern island but soon retracted it when the missile’s flight path was believed no longer a threat.

    Tyler Durden
    Sun, 04/16/2023 – 18:00

  • Dramatic Video Shows Indian Gangster-Turned-Politician Gun Down On Live TV
    Dramatic Video Shows Indian Gangster-Turned-Politician Gun Down On Live TV

    A dramatic video shared on Twitter shows the Indian gangster turned politician Atiq Ahmed was gunned down on live TV with his brother while being escorted by police. The incident occurred Saturday night in Prayagraj, also called Allahabad, located in the northern Indian state of Uttar Pradesh.

    Ahmed was speaking with reporters while in police custody when three men posing as journalists shot the former politician and his brother, reported BBC News. Both died on the spot. 

    The Ahmed family has been involved in dozens of kidnappings, murders, and extortion over the past two decades. A court recently sentenced the former politician to life in jail over corruption and violent crimes. 

    In the footage shared on Twitter, Ahmed is asked whether he attended his son’s funeral.

    His final words were: “They did not take us, so we did not go.” Then all hell breaks out… 

    https://platform.twitter.com/widgets.js

    After carrying out the shooting, the suspected gunmen shouted Hindu religious chants. They surrender to the police at the scene. 

    “Experts have raised questions on how a man could be killed in front of the media and the police,” BBC noted. 

    Tyler Durden
    Sun, 04/16/2023 – 17:00

  • Biden Announces New Actions On Secret Documents After 'Embarrassing' Leak
    Biden Announces New Actions On Secret Documents After ‘Embarrassing’ Leak

    Authored by Tom Ozimek via The Epoch Times (emphasis ours),

    President Joe Biden on Friday announced new actions that restrict access to classified materials in the wake of an embarrassing leak of apparent classified U.S. military intelligence that ended up spreading widely on social media.

    President Joe Biden adjusts his microphone during a meeting with the President’s Council of Advisors on Science and Technology in the State Dining Room of the White House in Washington, on April 4, 2023. (Patrick Semansky/ AP Photo)

    The suspected leaker, a 21-year-old member of the Massachusetts Air National Guard named Jack Teixeira, was on Thursday arrested and charged in federal court on two counts, including unauthorized retention and transmission of national defense information charges.

    I commend the rapid action taken by law enforcement to investigate and respond to the recent dissemination of classified U.S. government documents,” Biden said in a statement.

    “While we are still determining the validity of those documents, I have directed our military and intelligence community to take steps to further secure and limit distribution of sensitive information, and our national security team is closely coordinating with our partners and allies,” the president added.

    Teixeira was an IT specialist responsible for military communications networks, which allowed him to get a higher level security clearance.

    The leaked documents include maps and details about deliveries of weapons, with some bearing markings classifying them as “Secret” and “Top Secret.” Some showed what looks like locations for front-line Russian and Ukrainian military units and artillery guns.

    Jack Douglas Teixeira poses for a selfie at an unidentified location in a file photo. (Social Media Website via Reuters)

    ‘Damaging’ Leak

    Former Defense Secretary Mark Esper said in an appearance on Fox News on Friday that he’s baffled as to why someone like Teixeira would have had access to the sensitive materials.

    I don’t understand why a 21-year-old national guardsmen had access to some of the most highly kept secrets in the United States, and in particular, finished products from the Joint Staff or finished products from the CIA operation center,” Esper said. “I just don’t know why he would have access to those.”

    Asked about reports that Teixeira worked in IT and needed clearance to work on computer networks and equipment, Esper said that his access should have been more limited and that information carried on military communication systems should have been ring-fenced.

    There’s not a need for him to have access to the information on that system, let alone finished products from the Joint Staff and CIA,” Esper replied, adding that an investigation into the leak shows that the Pentagon has a problem “not just over classification, but in this case, over distribution.”

    “There’s too many people that have access to this information. It should really only be for the highest levels of our government,” Esper said. “And we need to get that under control.”

    It’s not just embarrassing, but it’s damaging,” Esper said, noting that the leak hurt Ukraine’s ability to mount an effective counter-offensive against Russian forces while burning U.S. access to Russian military and intelligence systems.

    The leak may also have exposed sources and techniques of collecting intelligence on Chinese operations, he added.

    Then Secretary of Defense Mark Esper testifies before a House Armed Services Committee hearing at Capitol Hill in Washington on July 9, 2020. (Michael Reynolds/Pool/Getty Images)

    Pentagon Takes Action

    Besides Biden announcing action to limit access to classified materials, Defense Secretary Lloyd Austin has vowed to take “any additional measures necessary” to safeguard against national security leaks and has ordered a review of intelligence access.

    Austin said during a press conference on Thursday that he’s “directing the Under Secretary of Defense for Intelligence and Security to conduct a review of our intelligence access, accountability, and control procedures within the Department to inform our efforts to prevent this kind of incident from happening again.”

    He said the Department of Defense, in close partnership with the Intelligence Community and its interagency partners, “will continue to review the national security implications of this unauthorized disclosure.”

    Austin also stressed that “every U.S. service member, DoD civilian, and contractor with access to classified information has a solemn legal and moral obligation to safeguard it and to report any suspicious activity or behavior.”

    Read more here…

    Tyler Durden
    Sun, 04/16/2023 – 16:30

  • California Utilities Propose Charging Customers Based On How Rich They Are
    California Utilities Propose Charging Customers Based On How Rich They Are

    As if the relatively affluent needed another reason to escape California… If you earn more, you pay more.

    That’s the bottom-line impact on your electricity bill if a proposal from California’s three largest power companies is passed.

    As KTLA5 reports, Southern California Edison, Pacific Gas & Electric, and San Diego Gas & Electric submitted a joint proposal to the state’s Public Utilities Commission last week that outlines the new rate structure. It follows last year’s passage of Assembly Bill 205 which requires a fixed rate and generally simpler bills.

    The plan would break monthly bills in two parts: The fixed-income rate, plus a reduced usage charge based on consumption.

    Under the proposal, the fixed charges increase as follows:

    • Households earning less than $28,000 a year would pay a fixed charge of $15 a month on their electric bills in Edison and PG&E territories and $24 a month in SDG&E territory.

    • Households with annual income from $28,000 – $69,000 would pay $20 a month in Edison territory, $34 a month in SDG&E territory and $30 a month in PG&E territory.

    • Households earning from $69,000 – $180,000 would pay $51 a month in Edison and PG&E territories and $73 a month in SDG&E territory.

    • Those with incomes above $180,000 would pay $85 a month in Edison territory, $128 a month in SDG&E territory and $92 a month in PG&E territory.

    Southern California Edison says approximately 1.2 million of its lower-income customers will see their bills drop by 16%-21%.

    “We have listened to and heard from our customers that fundamental change is needed to provide bill relief,” SDG&E CEO Caroline Winn said in a statement.

    So ‘some folks’ want energy bill relief… so the wealthy will have to pay their ‘fair-er share’ for the same power consumption.

    “When we were putting together the reform proposal, front and center in our mind were customers who live paycheck to paycheck, who struggle to pay for essentials such as energy, housing and food.”

    Of course, this is being directed from the top-down…

    The income-based bill proposal is part of the companies’ compliance with legislation passed by the California state government last year requiring these types of plans for utilities.

    Ironically, it is only the relatively affluent (we use that term because what is ‘poor’ in California is likely a considerably wealthier situation in most other US states) are the only residents of California that can afford an electric vehicle (which the state is demanding everyone transition to within the next few years) and thus ave higher electricity power demands broadly speaking.

    Tyler Durden
    Sun, 04/16/2023 – 16:00

  • Both Bulls And Bears Have Experienced Multiple "Lucy" Moments In The Past Year
    Both Bulls And Bears Have Experienced Multiple “Lucy” Moments In The Past Year

    By Peter Tchir, chief strategist at Academy Securities

    Peanuts & Lula

    This weekend’s T-Report will be mercifully short as I’m in Patagonia on vacation.

    Last week, we saw consistently weak economic data. On Thursday, the market decided that this was good news (lower inflation, the Fed off the table, etc.), but it didn’t feel like the squeezes of past weeks. Shorts got cut, but there wasn’t a fear that the market was going to run away with things (like we’ve seen in past squeezes). There were even some moments where it felt like the Russell 2000 could significantly outperform the Nasdaq 100. Yields were also higher across the board by the end of the week (which made sense).

    Peanuts – Charlie Brown & Lucy

    Charlie Brown (hoping that Lucy wouldn’t lift the football before he kicked it) always struck me as absurd. Couldn’t he just buy a “kick-off tee”? Just put the ball on the tee and kick it without relying on Lucy! Yet time after time, he ran to the ball only to have it snatched away with him winding up on his back wondering what had happened.

    I feel like both bulls and bears have experienced multiple “Lucy” moments in the past year. Every time it looked like we were going to break one way or the other, there goes the ball and we found ourselves on our backs as markets reversed course.

    I continue to believe that it is the bulls (this time) who are about to get “Lucy’d”. This Fed has no intention of cutting rates and might have every intention of remaining hawkish. Inflation, like the Monty Python Knight, has been utterly vanquished, but the Fed seems to think that “it’s only a flesh wound.” I think that they are wrong and we’ve already gone too far, but they don’t see it that way. The market seems to have gotten ahead of itself on the “weaker inflation data is good” theme because:

    1. The Fed is going to remain hawkish. Even if hikes are almost done, it is difficult to imagine cuts without serious data deterioration (which may be coming, but they will be slow to respond). Stopping at current levels will remain a headwind for the economy.
    2. The inflation data is “good” because the economy is showing many signs of weakness. Given where we saw freight and shipping data a few weeks ago (along with OPEC+ needing to cut), I expect that the weak data will continue, but this will not be enough to support stocks.

    I recommend that positioning should remain unchanged from last week (Davy Jones and the Six).

    Peanuts – Actual Peanuts

    On flights within Argentina, peanuts are served to passengers. In one country, “free” peanuts on flights still exist. However, in another country, people are asked not to even open anything that might have touched a peanut because someone on board might have an extreme allergy.

    Not sure what to make of this, but maybe it is a reminder that when we evaluate geopolitics, we really need to work hard to see it from the perspective of the other country.

    Lula and Xi

    China and Xi seem to have taken the lead in global diplomacy. Xi has gone far beyond just meeting with Putin and submitting peace proposals (albeit fake and self-serving). The Chinese deal with Brazil and their influence in encouraging the Iran deal with the Saudis have positioned China well on the world’s stage.

    Many will focus on the “disparagement” of the dollar. While that is important, there is a much clearer message being sent when you look at the headlines around the autos. For all who keep arguing that “China needs us as much or more than we need them” I say bah humbug!

    • China made things for American companies under the brand names of those companies.

    That is what China did and continues to do.

    • China is also going to sell Chinese brands to other countries.

    China will manufacture their own brands and find willing buyers.

    • The autocratic/resource rich nations of the world have potential trade surpluses with China that can be spent on Chinese manufactured goods (especially as trade is increasingly done between those countries in Yuan).
    • The Chinese goods, which are generally cheaper (and not of the same quality, in my opinion) may be better priced for the citizens of those resource rich nations (where the wealth is often concentrated).

    Our view that “China is aligning itself with the autocratic/resource rich nations” continues. We have argued that while the dollar will remain the reserve currency, there is increasingly a “dark web” of business shifting to the Yuan.

    This doesn’t impact us much today (or tomorrow) and there is still plenty of time to change the direction of these trends, but we better get our act together sooner rather than later!

    Bottom Line

    Still medium bearish (last week’s recommended positioning and trading style remain the same).

    I am increasingly concerned that we are missing China’s ascendance on the global stage and are too inward looking to recognize it.

    Academy was on Bloomberg TV last Monday and not only did we get to discuss markets, banks, and the Nasdaq 100 versus the Russell 2000, but we also got to discuss geopolitics and Academy’s edge on that front (starts around the 51 minute mark). As we stated last week (and the Lula visit supports), people are paying lip service to geopolitics, but aren’t worried enough. Admittedly some geopolitics will take time to develop and shift economies and markets, but companies need to be taking into account these potential (and even likely) shifts in their current planning.

    I can’t help but think about peanuts and my reaction to them on a flight versus the typical Argentinian’s view. I need to make sure that I’m applying the viewpoints of others correctly in my geopolitical analysis. In the meantime, before aggressively kicking the football, think about who is holding it and if they can be trusted!

    Tyler Durden
    Sun, 04/16/2023 – 15:30

  • Border Patrol "Brace For F**king Impact" As End Of Trump-Era Immigration Policy Looms
    Border Patrol “Brace For F**king Impact” As End Of Trump-Era Immigration Policy Looms

    Earlier this week, President Biden signed a joint resolution ending the COVID-19 national emergency on Monday, bringing an end to some of the emergency authority the president and Congress wielded to deal with the pandemic. The real authority granted to the executive during the pandemic was in the public health emergency, and that won’t be ended until May 11.

    And that means the lifting of Title 42 restrictions on border-crossers and the nightmare scenario of tens of thousands of illegal aliens rushing the border. Biden has severely curtailed the asylum program already but has yet to deal with the potential flood of illegals from Central America who will attempt to cross the border once Title 42 is lifted.

    Border Patrol agents are being given limited word on how to prepare for a flood of illegal immigrants when Title 42, a major Trump-era expulsion order, ends May 11, according to two agents who spoke anonymously with the Daily Caller News Foundation (DCNF) and an internal Department of Homeland Security (DHS) memo.

    “There are thousands and thousands just waiting for Title 42 to end. I would say a fear is that the Biden admin has no clue just how bad it’s going to get. We can barely actively patrol the border now. When Title 42 ends, all of our resources, all of our little manpower that we do have, are going to be focused on processing. Field work will nearly cease to exist in my opinion,” one Border Patrol agent working along the southern border told the DCNF.

    One agent working along the southern border, who requested anonymity because they weren’t authorized to speak, told the DCNF that the extent they were told about preparations was just to “brace for fucking impact” and to prepare to “weather the storm.”

    “Most of the time, we are just told that Title 42 will end eventually and to be mentally prepared for the influx of migrants when it does. Regular line agents don’t seem to be offered an outline or plan as to how we will actually deal with the large numbers at the processing level,” the second agent said.

    There are only so many ways to control our sovereign border and, as Rick Moran writes at PJMedia.com, what Biden is finding is that Trump’s policies don’t look so bad now that he has the responsibility to protect us.

    “At this point, I can’t tell the difference between Biden immigration policy and Trump immigration policy,” one asylum officer told CNN.

    One policy among them – once described as “cruel” and “inhuman” – is reinstating family detention at the border.

    Will AOC be crying at empty fences again?

    Some asylum officers are none too pleased with Biden’s Trumpy policies.

    “It feels like Groundhog Day,” another asylum officer told CNN.

    “With the Trump era, it felt like we had really gotten to rock bottom and when Biden took over, it seemed like a light ahead of us. It feels very disheartening.”

    Rick sums up the situation perfectly:

    Asking Biden and the Democrats to apologize for all those nasty things they said about Trump and his policies is a waste of time. But they know the truth. They know that Trump chose the correct path to deal with a nearly impossible situation.

    But it would be nice if Mayorkas or Biden acknowledged at least in some respect.

    Tyler Durden
    Sun, 04/16/2023 – 15:00

Digest powered by RSS Digest

Today’s News 16th April 2023

  • The Disruptive Military Technologies The Pentagon Is Spending Nearly $150 Billion On
    The Disruptive Military Technologies The Pentagon Is Spending Nearly $150 Billion On

    Authored by John Haughey via The Epoch Times (emphasis ours),

    President Joe Biden’s $886.3 billion Fiscal Year 2024 (FY24) defense budget request includes $145 billion for research and development into emerging technologies to create new weapons systems using Artificial Intelligence (AI), hypersonic munitions, and electromagnetic swarms.

    The U.S. Department of Defense launches a sounding rocket from NASA’s launch range at Wallops Flight Facility on Wallops Island, Va., on Oct. 26, 2022. (Evelyn Hockstein/Reuters)

    The Department of Defense (DOD) and its subsidiary military branch technology laboratories, working in tandem with universities and high-tech contractors that increasingly include small businesses, have produced such big-ticket splashes as newly deployed directed-energy weapons systems and hypersonic/ballistic sensors.

    Among prospective products and systems seeking funding in the FY24 spending request is a ‘Rocket Cargo’ transport that can move 100 tons of cargo anywhere on Earth within an hour; a counter-swarm electromagnetic weapon that can disable drones and be powered from a wall plug; a rotating detonation engine without moving parts; a “pop-up hide” that can make Marines disappear in plain sight; a Predictive Vehicle Activity for Identification and Location (PreVAIL) program that “will bring a novel approach to automated target detection and recognition.”

    There are also less sexy utilitarian products being tested in the budget, such as a Portable Fluid Analyzer, a ship-to-ship system that converts Morse code into text messages, and an assembly line of bigger, faster, better-armed unmanned aircraft, from micro-drones to the latest Unmanned Long-endurance Tactical Reconnaissance Aircraft (ULTRA.)

    All have survived, or must soon traverse, “The Valley of Death.”

    Unlike notable valleys in American military history—Valley Forge, the Chosin, Khe Sanh, the Korengal—this “Valley of Death” is not a place on a map but that dreaded moment of realization on a military product development timeline when a cutting-edge weapon that will deliver a decisive battlefield advantage cannot advance out of prototype to production and get onto the battlefield in time.

    An operational version of the Active Denial System, a military counter-personnel directed energy weapon that is the equivalent of science fiction’s heat ray. (Unlisted USAF personnel/Public domain/ Wikimedia Commons )

    ‘The Valley of Death’

    Integrating new, still-maturing technologies into existing programs and platforms without “radical disruption” to multi-year procurement and acquisitions systems is among the most tweaky of challenges confronting the military, Pentagon officials said during a two-hour April 13 webinar presented by the National Defense Industrial Association (NDIA).

    The DOD’s Under Secretary of Defense for Research & Engineering Heidi Shyu and the DOD’s Defense Advanced Research Projects Agency (DARPA) Director, Dr. Stefanie Tompkins, noted the proposed $145 billion Research, Development, Test, and Evaluation (RDT&E) budget is up 12 percent from this year with the Air Force receiving one-third of the requested outlay.

    Shyu said the Science and Technology component of the RDT&E budget request is $17.8 billion, up 8.3 percent over this year’s $16.5 billion budget.

    The annually updated National Defense Science & Technology Strategy is on Secretary of Defense Lloyd Austin’s desk, she said.

    Shyu said the strategy will focus on joint mission; creation and deployment of capabilities at speed and scale; establishment of an enduring advantage in talent, infrastructure, research, and collaboration; directed energy weapons; and hypersonic/ballistic sensors.

    Technology leaders for three military branches—Army Deputy Assistant Secretary for Research & Technology William Nelson, Naval Research Chief Rear Adm. Lorin Selby, Air Force Research Laboratory Commander Maj. Gen. Heather Pringle—outlined cooperative ventures with industry and workforce development plans, especially in currying bids and participation in projects by small businesses.

    The $886.3 billion FY24 defense request includes $842 billion for the Pentagon with emphasis on the “growing multi-domain threat posed by the People’s Republic of China (PRC),” which the DOD has again named the nation’s most pressing “pacing challenge.”

    March and April is typically when DOD and military command officers testify before congressional panels about their spending requests during the annual budget cycle leading up to Oct. 1, the official start of the federal fiscal year.

    All five of the panelists at the NDIA webinar have been making the rounds on Capitol Hill to meet with congressional bean-counters to discuss funding for new whiz-bang weapons, such as fusion-based target recognition systems, to such relatively mundane innovations as snow tires for Humbles, since February.

    But on April 13 before the NDIA, a Washington-based nonprofit that represents 1,800 corporations and nearly 60,000 individuals working in the defense manufacturing industry, it was all about “The Valley of Death.”

    The USS Ponce conducts an operational demonstration of the Laser Weapon System while deployed to the Arabian Gulf. (U.S. Navy photo by John F. Williams/Released)

    ‘Moats of Despair’

    Delivering new technologies developed in the commercial sector under DOD contract into the field in a seamless transition, especially when so many weapons systems are interrelated, is a daunting challenge, the officials said.

    In fact, in June 2022, Deputy Secretary of Defense Kathleen Hicks called transition discord “one of our biggest problems—the so-called ‘Valley of Death,’ scaling up to full-scale production and fielding” new weapons systems.

    Selby said there isn’t just one “Valley of Death” but at least three, which he described as “moats of despair.”

    “The first ‘Valley of Death’” is the stage where “the first identified prototype” is manufactured and tested and “it didn’t pan out or we failed internally” to properly build and test it, he said.

    That ‘Valley of Death’ is within my control” at that point, Selby said.

    The next “Valley of Death” is moving a product from prototype to production, he said, which is when other factors come into play, such as costs and manufacturing capabilities, which can make further development unfeasible. “This is a deep valley,” where many projects go to die, he said.

    The final ‘Valley of Death” is “getting that production to scale,” Selby said. “You got something, something that is ready to go onto a platform, as part of a modernization package” but you don’t control production schedules especially for an item that was previously manufactured at a “low rate production.”

    “The warfighter is screaming, ‘I need that and need that tomorrow’—that is [a problem] we have to solve. We have not solved it,” he said. “How do I rapidly go to scale? That’s the question. That’s how you win.”

    Read more here…

    Tyler Durden
    Sat, 04/15/2023 – 23:30

  • Watch: Beyond The Reset
    Watch: Beyond The Reset

    This excellent animated short film about the not-too-distant-but-very-dystopian future is at once humorous and terrifying.

    It speculates on the potential consequences of the infamous Great Reset, medical tyranny, woke culture, and green agenda.

    Everything, that World Economic Forum (WEF) is planning for us.

    If you’d like to buy the creator a beer, his PayPal address is oleg@3depix.com

    Tyler Durden
    Sat, 04/15/2023 – 23:00

  • They Must Have A Good Reason
    They Must Have A Good Reason

    Authored by Todd Hayen via Off-Guardian.org,

    There is a strange idea hovering about that if you don’t know something then it doesn’t exist.

    Kind of like the image of the proverbial ostrich with his head in the sand. But it goes beyond denial. Ignorance is when you don’t know something at all, denial is when you know it, but you ignore it.

    What I am talking about here is when you know something and do not deny it, but simply rationalize it away with a statement like “they must have a good reason for doing that,” or similarly, “maybe we don’t know all that there is to know about that.” Which is often followed with, “and I don’t have the time, (inclination, care, interest, curiosity, ability, intelligence, etc.) to look into it further.”

    This has always bugged me to some extent, but I must admit I have been marginally guilty of this sort of thinking myself. I mean, do we really have the time to check everything? Well, now I think we have to make the time, and, of course, not everything is important enough to require vetting it for truth. That is an awful thing to say, but I am afraid it is the truth.

    Part of this “gullibility” that causes many people to just brush things off assuming that all is ok comes from indoctrination from an early age. I grew up in a culture that seemed to be really obsessed with people’s safety—particularly the safety of children. Think of all the recalls of toys and such. If some toy comes out that has the slightest bit of uncertainty about how it might harm your child, it is pulled.

    I should not say I “grew up” with this because most of the crap I played with as a kid would be considered a lethal weapon today—Lawn Darts, BB and pellet guns, Vac-U-Forms, chemistry sets, Easy Bake ovens (this was my sister’s toy, she was a little girl, I was a little boy—I tell you this for clarity). The “safety craze” didn’t really start until a decade or so later. I even remember some kid I knew got an “Atomic Energy Lab” toy that had actual uranium ore in the kit.

    I would have died (literally) to get my hands on one of these.

    Those were the days.

    So over the decades, due to these recalls and safety concerns, we have developed a false sense of security. What regulation agency would bother to recall Lawn Darts but at the same time allow an unsafe vaccine to reach the unwilling arms of children? Well, toys are toys, vaccines are medicine. There ‘ya go.

    The government, and other regulatory agencies, know what’s right, right?

    Being born into a culture (US) that was known for its integrity, truthfulness, righteousness, and a penchant for character and goodness (ha, ha), no one would ever think that the CIA would have been actively trying to assassinate Fidel Castro, among others, for decades.

    I remember first hearing a rumor about this when I was about 15. “No way,” I thought to myself. “Assassinations are illegal! My country would never be involved in such a thing!” Especially attempting to murder a leader of a country that really was just minding their own business. At least so it seemed. (Today, when we hear of such things, we shrug our shoulders and say, “They must know what they are doing.”)

    And what about Iran’s Mosaddegh? He was minding his own business overseeing the affairs of Iran as Prime Minister from 1951 to 1953. The US wasn’t happy with him for a number of reasons (primarily economic, like, for example, Mosaddegh wanted Iran to get a bigger share of oil profits that the US and UK were sucking out of his nation’s oil fields, imagine that! What audacity!). The CIA bopped him off as well—indirectly with a CIA created insurrection, which led to Mosaddegh’s imprisonment and more than likely contributed to his health issues, then he died). Sure there is detail here I am not presenting, but you get the picture.

    The US Government must have had a good reason.

    How about Obama’s drone war? Killing a whole whack of people, including children (I would say “women and children” but I might get in trouble for that).

    He must have had a good reason.

    Personally, I don’t think there is any “good” reason to kill children—even if as collateral damage or unintentionally.

    I am presenting here only a few examples among thousands…more than we even know of course. And this is just government actions, what about pharmaceutical actions, or other medical actions? They all must have good reasons.

    As a whole most people seem to think that atrocities cannot happen in the US (or Canada, or the UK, or other countries in the “civilized” West). We are just too sophisticated for that. The irony here is the official spokespeople for the US, for example, actually present themselves as do-gooders. They either keep their actions covert and Top Secret, or they present them as “good things.” We only have to look to people like Julian Assange and Edward Snowden to see how the US treats whistleblowers who seek to expose the fact the US really doesn’t have a good reason to do much that it does—at least no reason that benefits us.

    If you ever corner a sheep and throw this sort of stuff at them, they will first hit you with the statement, “why do you have to be so negative? Why can’t you just trust your government to take care of business in our best interests as a nation?” They will say that the government has to have secrets in order to keep us safe, and those people who break the law (Assange and Snowden, among many others. Since we are counting, let’s include the truckers of Canada as well) are criminals, and it doesn’t matter if your intention is good, if you break the law you are a criminal and should be punished.

    If you try to argue with these sheep about anything more complex, like the CIA’s intervention into Middle Eastern affairs, they will just blow it off and say something like, “All that overseas stuff is just too complicated to sort out. And those Middle Eastern countries (except Israel) are all bad guys, I don’t really care what the US does to them, they know what they are doing.”

    Sheep are funny that way. “La, la, la, la, la, la” with fingers plugging their ears. It is easy to push them to this point. Sheep poking. Try it some time for fun and pleasure.

    One good way to get them there really quickly is to bring up some false flag issue that has been in the big time news within the last few decades. The 9-11 fiasco is my favorite. You’ll get the sheep fingers into the ears really quickly with the “la la la’s” going full blast. Don’t try something too far out there though, like the moon landing, or the hot ticket now, germ vs. terrain theory. You’ll only just get eye rolls for those whacko topics.

    I am curious though…speaking of 9-11… what will happen when that incident is exposed for what it was? (Assuming that will ever occur.)

    I will bet you money, no matter how ludicrous it would be, their first response to the realization that their own government was responsible for the destruction of those buildings at the World Trade Center, will be, “They must have had a good reason.”

    Actually they did, but it wasn’t a good reason for us.

    Tyler Durden
    Sat, 04/15/2023 – 22:30

  • US Criticizes China's Death Sentence Of 'Wrongfully Detained' American Citizen
    US Criticizes China’s Death Sentence Of ‘Wrongfully Detained’ American Citizen

    Authored by Aldgra Fredly via The Epoch Times (emphasis ours),

    The United States on Thursday expressed its “disappointment” over China’s decision to uphold a death sentence of an American man who had been “wrongfully detained” for over a decade on drug-related charges.

    Texas resident Katherine Swidan holds a picture of her son Mark Swidan who has been held in China for a decade. (Courtesy of the Swidan family)

    Mark Swidan, a Houston resident, was detained on Nov. 13, 2012, while on a business trip to China. He was accused of being a part of a network involved in the manufacturing and trafficking of drugs.

    Swidan pleaded not guilty to all charges but was denied by the Jiangmen Intermediate Court, which upheld his death sentence with a two-year suspended sentence, according to the U.S. Department of State.

    “We are disappointed by this decision and will continue to press for his immediate release and return to the United States,” Vedant Patel, a Department of State spokesman, said in a statement.

    “U.S. officials have repeatedly expressed their concerns to senior PRC [People’s Republic of China] officials about Swidan’s treatment, medical care, and his inability to send or receive mail in a timely manner,” he added.

    Patel said that President Joe Biden and Secretary of State Antony Blinken will “continue to remain personally focused” on the release of Swidan and other U.S. nationals who were “wrongfully detained” or held hostage around the world.

    Lack of Evidence

    Swidan was aged 37 at the time of his arrest. He was sentenced to death in 2018 despite a lack of evidence presented against him.

    No drugs were found on Swidan’s body or in his hotel room when he was arrested, according to a report [pdf] released by the United Nations Working Group on Arbitrary Detention in 2020.

    The prosecution failed to produce forensic or telecommunications evidence, such as emails, phone call records, or letters. His passport records showed that Swidan was not in China when the alleged offense occurred.

    U.S. officials had previously called for his release. In February, Texas Republicans—including Sen. Ted Cruz, Sen. John Cornyn, and Congressman Michael Cloud—introduced a resolution demanding his release ahead of Blinken’s planned trip to Beijing.

    They’ve sentenced him to death on charges for which they have little to no evidence, and I had been urging Tony Blinken when he was going to Beijing to raise Mark’s case and to make the case for Mark to be released,” Cruz said in a statement.

    Blinken indefinitely postponed his visit after a suspected Chinese spy balloon was detected flying over the continental United States. A U.S. military jet later shot down the balloon on Feb. 4.

    “Bringing Mark Swidan home to his family should be a top priority for this administration,” Cloud said. “Too many innocent Americans remain wrongfully imprisoned by authoritarian regimes who are happy to collect human lives as a capital for future political bargaining.”

    ‘Badly Mistreated’

    According to the U.N. report, Swidan was “badly mistreated” while in detention and exposed to “poor sanitary conditions.” He was denied medical treatment and barred from communicating with his family or U.S. Consulates.

    Read more here…

    Tyler Durden
    Sat, 04/15/2023 – 22:00

  • Hacking Humanity: Transhumanism
    Hacking Humanity: Transhumanism

    Authored by Michael Rectenwald via The Mises Institute,

    The notion that the world can be replicated and replaced by a simulated reality says a great deal about the beliefs of those who promote the metaverse [treated in the previous chapter]. The conception is materialist and mechanistic at base, the hallmarks of social engineering. It represents the world as consisting of nothing but manipulable matter, or rather, of digital media mimicking matter. It suggests that human beings can be reduced to a material substratum and can be induced to accept a technological reproduction in lieu of reality. Further, it assumes that those who inhabit this simulacrum can be controlled by technocratic means. Such a materialist, mechanistic, techno-determinist, and reductionist worldview is consistent with the transhumanist belief that humans themselves will soon be succeeded by a new transhuman species, or humanity-plus (h+)—perhaps a genetically and AI-enhanced cyborg that will outstrip ordinary humans and make the latter virtually obsolete.

    The term transhumanism was coined by Julian Huxley, the brother of the novelist Aldous Huxley and the first director-general of the United Nations Educational, Scientific and Cultural Organization (UNESCO). In an essay entitled “Transhumanism,” published in the book New Bottles for New Wine (1957), Huxley defined transhumanism as the self-transcendence of humanity:

    The human species can, if it wishes, transcend itself—not just sporadically, an individual here in one way, an individual there in another way, but in its entirety, as humanity. We need a name for this new belief. Perhaps transhumanism will serve: man remaining man, but transcending himself, by realizing new possibilities of and for his human nature.

    One question for transhumanism is indeed whether this transcendence will apply to the whole human species or rather for only a select part of it. But Huxley gave some indication of how this human self-transcendence might occur: humanity would become “managing director of the biggest business of all, the business of evolution . . .” As the first epigraph to this Part makes clear, Julian Huxley was a proponent of eugenics. And he was the President of the British Eugenics Society. It was in his introduction of UNESCO, as the director-general that he suggested that eugenics, after the Nazi regime had given it such a bad name, should be rescued from opprobrium, “so that much that now is unthinkable may at least become thinkable.” As John Klyczek has noted, “In the wake of vehement public backlash against the atrocities of the Nazi eugenic Holocaust, Huxley’s eugenics proper was forced to go under-ground, repackaging itself in various crypto-eugenic disguises, one of which is ‘transhumanism.’” Transhumanism, Klyczek suggests, is “the scientific postulate that human evolution through biological-genetic selection has been largely superseded by a symbiotic evolution that cybernetically merges the human species with its own technological handiwork.”

    Contemporary transhumanist enthusiasts, such as Simon Young, believe that humanity can take over where evolution has left us to create a new and improved species—either ourselves, or a successor to ourselves:

    We stand at a turning point in human evolution. We have cracked the genetic code; translated the Book of Life. We will soon possess the ability to become designers of our own evolution.

    In “A History of Transhumanist Thought,” Nick Bostrom details the lineage of transhumanist thought from its prehistory to the present and shows how transhumanism became wedded to the fields of genomics, nanotechnology, and robotics (GNR), where robotics is inclusive of Artificial Intelligence (AI). It is the last of these fields that primarily concerns us here. The transhumanist project has since envisioned the transcendence of humanity via technological means. In the past thirty years, this technological transcendence has been figured as “the singularity.”

    Vernor Vinge, the mathematician, computer scientist, and science fiction author introduced the notion of the technological singularity in 1993. The singularity, Vinge suggested, is the near-future point at which machine intelligence will presumably supersede human intelligence. Vinge boldly declared: “Within thirty years, we will have the technological means to create superhuman intelligence. Shortly after, the human era will be ended.” Vinge predicted that the singularity would be reached no later than, you guessed it, 2030. The question Vinge addressed was whether, and if so, how, the human species might survive the coming singularity.

    The inventor, futurist, and now Google Engineering Director Raymond Kurzweil has since welcomed the technological singularity as a boon to humanity. Kurzweil, whose books include The Age of Spiritual Machines (1999), The Singularity Is Near (2005), and How to Create a Mind (2012), suggests that by 2029, technologists will have successfully reverse-engineered the brain and replicated human intelligence in (strong) AI while vastly increasing processing speeds of thought. Having mapped the neuronal components of a human brain, or discovered the algorithms for thought, or a combination thereof, technologists will convert the same to a computer program, personality and all, and upload it to a computer host, thus grasping the holy grail of immortality. Finally, as the intelligence explosion expands from the singularity, all matter will be permeated with data, with intelligence; the entire universe will “wake up” and become alive, and “about as close to God as I can imagine,” writes Kurzweil.

    Thus, in a complete reversal of the Biblical creation narrative, Kurzweil posits a dumb universe that begins with a cosmic singularity (the Big Bang) and becomes God by a technological singularity. This second singularity, Kurzweil suggests, involves the universe becoming self-aware, vis-à-vis the informational, technological agent, humanity. Thus, in the technological singularity, the technological and the cosmic converge, as Kurzweil resembles a techno-cosmic Hegelian. (Hegel figured collective human self-consciousness progressing in self-actualization and self-realization, finally becoming and recognizing itself as God, “through the State [as] the march of God in the world.”) Incidentally, according to Kurzweil, our post-human successors will bear the marks of their human provenance. Thus, the future intelligence will remain “human” in some sense. Human beings are the carriers of universal intelligence and human technology is the substratum by which intelligence will be infinitely expanded and universalized.

    More recently, Yuval Noah Harari—the Israeli historian, WEF-affiliated futurist, and advisor to Klaus Schwab—has also hailed this singularity, although with dire predictions for the vast majority. According to Harari, the 4-IR will have two main consequences: human bodies and minds will be replaced by robots and AI, while human brains become hackable with nanorobotic brain-cloud interfaces (B/CIs), AI, and biometric surveillance technologies. Just as humans are functionally replaced, that is, they will be subject to the total control of powerful corporations or the state (or, what’s more likely, a hybrid thereof, a neo-fascist state). Rather than a decentralized, open-access infosphere of exploding intelligence available to all, Singularitarian technologies will become part of the arsenal for domination. The supersession of human intelligence by machine intelligence will involve the use of such data and data processing capabilities to further predict and control social behavioral patterns of the global population. In addition, the biotechnical enhancement of the few will serve to exacerbate an already wide gulf between the elite and the majority, while the “superiority” of the enhanced functions ideologically to rationalize differences permitted by such a division. That is, Harari suggests that if developments proceed as Vinge and Kurzweil predict, this vastly accelerated information-collecting and processing sphere will not constitute real knowledge for the enlightenment of the vast majority. Rather, it will be instrumentalist and reductionist in the extreme, facilitating the domination of human beings on a global scale, while rendering opposition impossible.

    In an article in Frontiers in Neuroscience, Nuno R. B. Martins et al. explain just how such control could be implemented through B/CIs, which the authors claim will be feasible within the next 20 to 30 years:

    Neuralnanorobotics may also enable a B/CI with controlled connectivity between neural activity and external data storage and processing, via the direct monitoring of the brain’s ~86 x 109 neurons and ~2 x 1014 synapses. . .

    They would then wirelessly transmit up to ~6 x 1016 bits per second of synaptically processed and encoded human–brain electrical information via auxiliary nanorobotic fiber optics (30 cm3) with the capacity to handle up to 1018 bits/sec and provide rapid data transfer to a cloud-based supercomputer for real-time brain-state monitoring and data extraction. A neuralnanorobotically enabled human B/CI might serve as a personalized conduit, allowing persons to obtain direct, instantaneous access to virtually any facet of cumulative human knowledge (emphasis mine).

    Such interfaces have already reached the commercialization stage with Elon Musk’s Neuralink, Kernel, and through DARPA, among others.

    When neuralnanorobotic technologies that conduct information and algorithms that make decisions interface with the brain, the possibilities for eliminating particular kinds of experiences, behaviors, and thoughts becomes possible. Such control of the mind through implants was already prototyped by Jose Delgado as early as 1969. Now, two- way transmission of data between the brain and the cloud effectively means the possibility of reading the thoughts of subjects, interrupting such thoughts, and replacing them with other, machine-cloud-originating information. The desideratum to record, label, “informationalize,” rather than to understand, let alone critically engage or theorize experience will take exclusive priority for subjects, given the possibilities for controlling neuronal switching patterns. Given the instrumentalism of the Singularitarians— or, as Yuval Harari has called them, the “Dataists”— decisive, action-oriented algorithms will dominate these brain-cloud interfaces, precluding faculties for the critical evaluation of activity, and obliterating free will. Given enough data, algorithms will be better able to make decisions for us. Nevertheless, they will have been based on intelligence defined in a particular way and put to particular ends, placing considerable emphasis on the speed and volume of data processing and decision-making based on data construed as “knowledge.” Naturally, Aldous Huxley’s Brave New World comes to mind. Yet, unlike Huxley’s mind-numbing soma, brain-cloud interfaces will have an ideological appeal to the masses; they are touted as enhancements, as vast improvements over standard human intelligence.

    Harari peels back the curtain masking transhumanism’s Wizard of Oz promises, suggesting that even before the singularity, robotics and machine intelligence will make the masses into a new “useless class.” Given the exorbitant cost of entry, only the elite will be able to afford actual enhancements, making them a new, superior species—notwithstanding the claim that Moore’s Law closes the technological breach by exponentially increasing the price-performance of computing and thus halving its cost per unit of measurement every two years or less. How the elite will maintain exclusive control over enhancements and yet subject the masses to control technologies is never addressed. But perhaps a kill switch could be implemented such that the elite will not be subjected to brain-data mining—unless one runs afoul of the agenda, in which case brain-data mining could be (re)enabled.

    In a 2018 WEF statement, Harari spoke as the self-proclaimed prophet of a new transhumanist age, saying:

    We are probably among the last generations of homo sapiens. Within a century or two, Earth will be dominated by entities that are more different from us, than we are different from Neanderthals or from chimpanzees. Because in the coming generations, we will learn how to engineer bodies and brains and minds. These will be the main products of the 21st century economy (emphasis mine).

    No longer capable of mounting a challenge to the elite as in the nineteenth and twentieth centuries, and having no function, the feckless masses will have no recourse or purpose. Exploitation is one thing; irrelevance is quite another, says Harari. And thus, as Harari sees it, the remaining majority will be condemned to spend their time in the metaverse, or worse. If they are lucky, they will collect universal basic income (UBI) and will best occupy themselves by taking drugs and playing video games. Of course, Harari exempts himself from this fate.

    As for the elite, according to Harari, their supposed superiority to the masses will soon become a matter of biotechnological fact, rather than merely an ideological pretension, as in the past. The elite will not only continue to control the lion’s share of the world’s material resources; they will also become godlike and enjoy effective remote control over their subordinates. Further, via biotechnological means, they will acquire eternal life on Earth, while the majority, formerly consoled by the fact that at least everybody dies, will now lose the great equalizer. As the supernatural is outmoded, or sacrificed on the altar of transhumanism, the majority will inevitably forfeit their belief in a spiritual afterlife. The theistic religions that originated in the Middle East will disappear, to be replaced by new cyber-based religions originating in Silicon Valley. Spirituality, that is, will be nothing but the expression of reverence for newly created silicon gods, whether they be game characters, game designers, or the elites themselves.

    Harari’s pronouncements may amount to intentional hyperbole to make a point, but his statements are remarkable for the cynicism and disdain for humanity they betray. They are revelatory of the unmitigated gall of believers in the transhuman future. Coupled with the neo-Malthusian impulses of the elite, centered around the UN and the WEF, a picture emerges of an elite whose objective is to reduce the population of “useless eaters,” while keeping the remainder in their thrall.

    [This piece is an excerpt from The Great Reset and the Struggle for Liberty.]

    Tyler Durden
    Sat, 04/15/2023 – 21:30

  • Stunning Satellite Images Show Rare "Superbloom" Blanketing California's Hillsides
    Stunning Satellite Images Show Rare “Superbloom” Blanketing California’s Hillsides

    After a deluge of atmospheric rivers that dumped 78 trillion gallons of water on California, effectively ending a severe multi-year drought within several months, a rare superbloom has emerged in the state’s southern region across hillsides, and it’s even visible from space.

    CBS News reported new photos via NASA’s Landsat 9 satellite show a rare wildflower superbloom in Southern California after years of drought. The wet conditions spurred the germination of flower seeds all at once, leading to large swaths of land covered in various colors. 

    Southern California’s superbloom phenomenon. Source: NASA 

    Maxar Technologies also published satellite photos showing the hillside outside Palmdale covered in yellow and orange flowers.

    Another image shows a hillside covered in purple. 

    And another shows hillsides covered in yellow. 

    The rare desert botanical phenomenon has captured the attention of Southern California residents. Many have taken day trips to see the colorful hillsides. 

    Although severe drought conditions have largely subsided and wildflowers blanket the hillsides, this abundance of vegetation could potentially serve as fuel for fires when drought conditions reemerge. 

    Tyler Durden
    Sat, 04/15/2023 – 21:00

  • Contentious COVID-19 Drugs Are All Anti-Malarial: May Not Be A Coincidence
    Contentious COVID-19 Drugs Are All Anti-Malarial: May Not Be A Coincidence

    Authored by Marina Zhang via The Epoch Times (emphasis ours),

    The COVID-19 recommendations hydroxychloroquine, ivermectin, and now artemisinin all have one thing in common: They are antimalarial drugs or have such properties.

    Yet studies suggest that this may not be a mere coincidence; malaria and COVID-19 may be more similar than people may realize.

    Malaria Versus COVID-19

    From the outset, malaria and COVID-19 are very distinct diseases.

    Malaria is a parasitic disease. An infection starts when an individual is bitten by a mosquito carrying a parasite from the Plasmodium genus. Upon infection, the parasite first goes to the liver and multiplies in liver cells. Then it migrates to the bloodstream, invades and proliferates in red blood cells, and causes these cells to expand and burst.

    Common malaria symptoms such as fever, chills, and sweating occur during the blood-stage infection. Complications include anemia, and on rare occasions, cerebral malaria, liver failure, fluid buildup in the lungs, and acute respiratory distress syndrome.

    COVID-19, on the other hand, is a viral disease. Infection occurs primarily through the inhalation of contaminated droplets. The virus invades the body through the nasal cavities, entering the upper and then lower respiratory tracts.

    Inflammation of the lungs ensues as the body’s immune cells fight off the infection. The person’s oxygen levels start dropping as inflammation worsens in the advent of a cytokine storm, and the lungs become damaged. Some of the virus can also go into the bloodstream and invade other organs, causing systemic inflammation and damage.

    Several Commonalities

    While one mainly affects blood cells and the other primarily affects the lungs, both diseases are characterized by a strong inflammatory response early in the infection, according to a 2022 paper in Frontiers in Immunology.

    Symptoms-wise, both infections from malaria and COVID-19 can lead to fever, fatigue, shortness of breath, diarrhea, and muscle pain.

    If inflammation is prolonged, the body will experience a significant increase in cytokines, and individuals can become severely injured or even die.

    The two diseases are also similar in that they both sequester iron, use the same receptors in their pathogenesis, and even share similar structures in their proteins.

    Iron Storage

    Both the Plasmodium parasite and the SARS-CoV-2 virus require iron to proliferate. Therefore, both the parasite and the virus need to store iron inside the ferritin protein within infected cells. High or increased levels of ferritin are therefore an indication of severe disease and inflammation.

    Drugs that are capable of targeting iron storage or preventing proliferation may therefore be successful in treating both malaria and COVID-19.

    Similar Receptors

    The angiotensin-converting enzyme 2 (ACE-2) receptor is involved in both malaria and COVID-19 infections.

    In COVID-19, the virus binds to ACE-2 to invade cells. ACE-2 is ubiquitous within the human body, present within at the very least:

    • Lungs
    • Blood vessels
    • Muscles
    • The gut
    • Nerves
    • Stomach
    • Heart
    • Kidneys
    • Pancreas
    • Testes
    • Uterus

    Organs that have a high number of ACE-2 receptors are therefore at a higher risk of COVID-19 infection.

    The significance of ACE-2 in malaria is uncertain. However, one study, as well as the one published in Frontiers in Immunology, showed that people who have their ACE-2 receptors reduced due to genetic predispositions are more resistant to malaria.

    According to the Frontiers in Immunology study, malaria parasites use the CD147 receptors on red blood cells to gain entry into the cell. The COVID-19 virus also uses CD147 in the absence of ACE-2 receptors. CD147 has also been linked to the formation of blood clots in COVID-19 infections.

    Therapeutics that can target CD147 and ACE-2 may be successful in treating both malaria and COVID-19.

    Similar Protein Structures

    Additionally, both pathogens share a degree of overlap in their protein structures. The COVID-19 surface N protein has at least 40 percent structural similarity with important malarial proteins in charge of transport, attachment, and invasion.

    This means that drugs that can target malarial proteins may also be able to target SARS-CoV-2 viral proteins.

    Antimalarial Drugs Used in COVID-19

    Early in the pandemic, many studies recommended antimalarial and anti-parasitic drugs such as hydroxychloroquine, chloroquine, ivermectin, and artemisinin as potential treatment options for COVID-19. These recommendations, however, soon received backlash, with one reason being that malaria and COVID-19 seem to be very different diseases.

    But many doctors and studies found these therapeutics helpful in treating acute COVID-19. Professor Jose Luis Abreu, whose specialty is in plant science at The State University of Nuevo León, used the proposition of “parallelism between malaria and COVID-19” as an explanation for why antimalarial drugs such as ivermectin, artemisinin, and hydroxychloroquine may be applied to COVID-19 in his protocol.

    Block COVID-19 Receptors and Proteins

    In simulation studies, ivermectin, hydroxychloroquine, and artemisinin can bind to SARS-CoV-2 N proteins, which have structural similarities with malaria proteins. In treating malaria, hydroxychloroquine and artemisinin have been shown to block malarial proteins from replicating and proliferating.

    All three drugs can also bind to CD147 and ACE-2 receptors, as previously reported by The Epoch Times. These drugs can also bind to COVID-19 spike proteins directly to prevent viral attachment to cell receptors and also prevent viral proliferation by blocking proteins that take part in viral replication.

    Read more here…

    Tyler Durden
    Sat, 04/15/2023 – 20:30

  • Have Internal-Combustion-Engine Vehicle Sales Already Peaked?
    Have Internal-Combustion-Engine Vehicle Sales Already Peaked?

    Electric vehicle (EV) sales have grown rapidly over the past few years, but have they managed to make a dent in the global market?

    To find out, Visual Capitalist’s Marcus Lu visualized data from BloombergNEF that breaks down annual vehicle sales by three categories:

    • Internal combustion (including traditional hybrids)

    • Plug-in hybrids

    • Battery electric

    From this, we can see that EVs are definitely building up market share. In fact, combustion vehicle sales appear to have peaked in 2017.

    Growth in EV Market Share

    The following table lists global EV sales, as well as their relative market share.

    Year EV Sales EV Market Share (%)
    2013 206,000 0.2
    2014 320,000 0.4
    2015 543,000 0.6
    2016 791,000 0.9
    2017 1,262,000 1.3
    2018 2,082,000 2.2
    2019 2,276,000 2.5
    2020 3,244,000 4.2
    2021 6,768,000 8.3
    2022 10,522,000 13.0

    *Includes plug-in hybrids. Source: EV Volumes

    We can see that EV sales really picked up steam around 2019. This is likely due to various government subsidies and a growing list of models to choose from.

    EV ranges, once a major limiting factor, are also becoming less of a concern as battery technology improves and more charging stations become available.

    Will Combustion Vehicle Sales Stage a Comeback?

    It seems unlikely that combustion vehicles will be able to reclaim much of their lost market share.

    China, the world’s largest car market, is leading the world in terms of EV adoption. As of 2022, one in four new cars sold in the country is electric. The U.S. and EU are transitioning slower, but should catch up thanks to government subsidies and a planned phase-out of fossil fuel vehicles.

    In the EU, the sale of new internal combustion vehicles will be banned by 2035. However, an exemption was recently made on behalf of Germany to allow the sale of cars that run on synthetic fuels.

    In the U.S., the 13 states that adhere to California’s Zero Emissions Vehicle (ZEV) Program are aiming for 100% of cars sold in 2035 to be ZEVs. These states include California, Colorado, Connecticut, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont, and Washington.

    Tyler Durden
    Sat, 04/15/2023 – 20:00

  • How AI Can Track, Manipulate Voters
    How AI Can Track, Manipulate Voters

    Authored by Kevin Stocklin via The Epoch Times (emphasis ours),

    How well do artificial intelligence (AI) programs know us humans?

    A visitor watches an AI (Artificial Intelligence) sign on an animated screen at the Mobile World Congress (MWC), the telecom industry’s biggest annual gathering, in Barcelona. (Josep Lago/AFP via Getty Images)

    In most cases, it’s quite well and, in some ways better than we know ourselves.

    A study by AI experts at Brigham Young University, titled “Out of One, Many: Using Language Models to Simulate Human Samples,” found that predictive AI programs exhibited a striking degree of what they call “algorithmic fidelity,” or precise mapping to actual human behavior.

    “Because these AI tools are basically trained on stuff that humans produce, things that we write, documents we make, websites we write, they can reflect back to us a lot of interesting and important things about ourselves,” Ethan Busby, political psychologist and co-author of the study, told The Epoch Times. “Kind of like if someone read your diary from start to finish, they would know a lot of things about you, and you’re not going to like every single thing.

    “In a similar way,” Busby said, “these tools have read so many things that humans have produced, and they can replicate or say back to us things about ourselves that we didn’t necessarily know.”

    The study sought to analyze human behavior in the context of elections and asked how accurately a GPT-3 language model could predict voting patterns based on socio-demographic factors like a person’s gender, age, location, religion, race, and economic status. The authors used these factors to create “silicon samples,” or composite personas based on varying combinations of these attributes.

    You can basically ask these tools to put themselves in a specific frame of mind and pretend to be essentially this person, pretend to have these characteristics,” Busby said. They asked the program how these “silicon samples” would vote in specific campaigns, then they compared the results to actual voters’ behavior in elections between 2012 and 2020, using data from the American National Elections studies.

    For example, Busby said, regarding the 2016 election, “We could say what kinds of groups are going to be pivotal in Ohio?” What they found was that AI quickly learned to accurately predict how people would vote, based on their attributes.

    Left and Right Decry AI, When It Costs Elections

    Artificial intelligence is highly useful to organizations that want to target things like political messaging campaigns or fundraising efforts. But some political analysts have raised red flags about this, inferring unfairness and election interference. Their degree of outrage, however, largely depends on whether their candidates or causes succeeded or failed.

    In 2017, The Guardian, a left-wing British newspaper, wrote a series of articles claiming that conservative tech entrepreneur Robert Mercer, whom it called “the big data billionaire waging war on the mainstream media,” had financed a campaign strategy using AI to circumvent mainstream media narratives. This, the paper alleged, illicitly swayed voters in favor of Donald Trump, resulting in his victory in the presidential election in 2016.

    Read more here…

    Tyler Durden
    Sat, 04/15/2023 – 19:30

  • Data-Centers & Small Nuclear Reactors – A Match Made In Heaven?
    Data-Centers & Small Nuclear Reactors – A Match Made In Heaven?

    Authored by Brian Gitt via RealClear Wire,

    Most of us don’t think about the huge data centers that enable our constant internet usage. But they’re essential to our civilization—and they consume enormous amounts of electricity 24/7.

    Powering these data centers is fast becoming a problem. Northern Virginia, for instance, hosts the largest concentration of data centers in the world. Tech giants like Amazon, Facebook, Microsoft, and Google have invested $126 billion in Virginia data centers. And the region’s insatiable appetite for power continues to grow due to surging demand for cloud computing services. 

    Without reliable power, cloud service providers can’t grow to match the pace of increasing demand. But the electrical grid can’t keep up. Right now, power transmission bottlenecks in Northern Virginia could delay new data center development into 2026.

    Data center developers across the pond are facing the same problem. Microsoft and Amazon halted plans to build new data centers in Dublin, Ireland, because of power shortages and threats of rolling blackouts. And British officials paused construction on new houses in West London until 2035 because data centers had already maxed out the local grid’s capacity. 

    And it’s not just power consumption that is sparking opposition to data centers. Concerns about greenhouse gas emissions, water usage, noise pollution, and the overall sustainability of data centers are fueling local opposition that is constraining where—or even whether—data centers get built. 

    Google, Amazon, Microsoft, and Facebook have responded to the demand for clean energy by investing heavily in wind and solar projects. But wind and solar alone can’t solve the problem. Those energy sources simply can’t deliver the uptime that data centers need. Consider the European wind drought of 2021 that cut wind power in the UK by 32 percent for 6 months. The need for round-the-clock uptime presents a serious—perhaps insurmountable—obstacle to data centers relying solely on sources of power like wind and solar that don’t generate power at night, or on cloudy days, or when the wind doesn’t blow.

    Some people hope we’ll eventually be able to store surplus wind and solar energy in batteries. But the reality is that batteries are too expensive to store enough energy to supply reliable power for weeks (let alone months) of uncooperative weather. 

    The good news is that there’s a solution—a power source reliable enough to provide uptime round-the-clock at low cost and with zero emissions: a small onsite nuclear power plant dedicated to supplying power to a data center. 

    Small modular reactors (SMRs) supply between 10 and 300 MW of power 24/7. A data center supplied by an SMR would face no more competition for power with local communities. No more waiting for new transmission lines or power plants to be built. And no more emissions. When we consider the full lifecycle of different power sources (including mining, manufacturing, and disposal), solar emits four times more carbon than SMRs.

    SMRs differ from large conventional nuclear plants as much as modern smartphones differ from old rotary phones. Conventional plants are large and complicated, and cumbersome US and European regulations make them expensive to build. Two units (1,117 MWs each) currently being built in the US state of Georgia have cost upwards of $30 billion. Construction on them, moreover, is six years behind schedule, and when they finally come online in 2023, they will have taken 14 years to complete. These kinds of costs and delays present a capital risk factor for large conventional nuclear plants. 

    Large nuclear reactors are also land-intensive. They typically require over 800 acres and usually need to be sited near a lake, river, or the ocean to access water for cooling. Plus, they don’t recycle spent fuel.

    SMRs are simpler and much less expensive to construct. Off-the-shelf components and factory prefabrication bring construction costs as low as $60 million. SMRs have a small footprint—about two acres for the smallest reactors, which is less than 0.5% of the land used by traditional reactors. Most don’t use water for cooling and therefore don’t have to be sited near a lake, river, or ocean. They can be installed on site or at a nearby location in under a year, and developers needn’t put capital at risk as some SMR companies offer power purchase agreements (PPAs).

    Oklo, for instance, owns and operates the power plant and sells 24/7 clean power at costs equal to or less than traditional energy sources. Oklo’s streamlined regulatory approach and extensive experience working with the U.S. Nuclear Regulatory Commission minimizes the time required to get a license to operate. The expected timeline from a signed PPA to powering servers (including licensing, permitting, and constructing) is two to three years. Plus, SMRs can be designed to recycle spent fuel—both their own fuel and fuel from large nuclear plants.

    SMRs promise data centers what they’re looking for: a reliable, low-cost, carbon-free energy source that yields round-the-clock uptime. Data centers of all sorts (hyperscale, colocation, or telecom) can use SMRs to secure the energy independence they need to overcome bottlenecks in the grid and to avoid competition for energy with local communities. 

    Tyler Durden
    Sat, 04/15/2023 – 19:00

  • The E. Coli Super-Pathogens You Should Know About
    The E. Coli Super-Pathogens You Should Know About

    Authored by Dr. Sean Lin and Jacky Guan via The Epoch Times (emphasis ours),

    Foodborne illnesses, also known as food poisoning, are a serious public health issue. Each year, they make 48 million people get sick, hospitalize 128,000, and cause the death of 3,000. Pathogenic E. coli is one of the most common known foodborne pathogens. However, the severity of various E. coli strains varies tremendously and the public should be cautious about one particularly dangerous type of E. coli.

    E. Coli 101

    Escherichia coli, also known as E. coli, is one of the most common types of bacteria known to mankind. From helping with digestion in your stomach to being a producer of artificial insulin, the bacteria discovered in 1885 have been studied countless times and improved our understanding of the microscopic world.

    The E. coli we infamously know from the news belong to the group Enteropathogenic E. coli (EPEC) and are pathogens responsible for food poisoning. Foodborne illnesses also include Salmonella and Norovirus (responsible for the recent cruise ship outbreaks). Typically, an E. coli infection occurs when a person comes into contact with contaminated food, animals, or water. It usually only causes mild abdominal pain or brief diarrhea. Other symptoms include stomach cramps, nausea, vomiting, and fever.

    Typical treatment usually involves rest, hydration, and nutritional support. The disease is usually self-limiting as the body can normally clear it. The use of antibiotics is common in treating E. coli, yet antibiotic resistance is also a problem worldwide. However, severe forms of E. coli are the Shiga toxin-producing variants of the bacteria that can have dire consequences.

    STEC Variants Severely Damage Intestinal Linings and Kidneys

    The variants of E. coli that produce Shiga toxins (Stx) are called Shiga toxin-producing E. coli, or STEC. They have gained a lot of attention in the past few decades, as they are known for causing severe disease.

    STEC belongs to the EPEC group. STEC strains are capable of producing toxins named Shiga toxin type 1 (Stx1), type 2 (Stx2), or both, encoded by stx1 and stx2 genes, respectively.

    The toxins are named after Kiyoshi Shiga, who first described the bacterial origin of dysentery caused by Shigella dysenteriae. Historically, the toxin produced by E. coli was named Shiga-like toxin (SLT). Now, Shigella dysenteriae and STEC are regarded as the most common sources of Shiga toxins.

    Symptoms of a STEC infection include abdominal pain and watery diarrhea. There are also severe—possibly life-threatening—cases characterized by hemorrhagic colitis. These types of E. coli are also called Enterohemorrhagic E. coli (EHEC). Shiga toxins are also associated with hemolytic uremic syndrome (HUS).

    In particular, the STEC O157:H7 and STEC O104:H4 are the two most notorious STEC strains. One could say these STEC groups are something like super soldiers in the E. coli army.

    Shiga toxin-producing bacteria are E. coli strains one does not want to encounter. (The Epoch Times)

    The Shiga toxin does most of its work in small blood vessels, as it is rather ineffective in large vessels such as major veins and arteries. This is how the toxin can specialize against the digestive tract, kidney, and lungs. For example, the Shiga toxins are good at destroying clusters of nerve endings or small blood vessels in the kidneys, which can lead to kidney failure and even HUS. It can severely damage the lungs as well, so food poisoning associated with Shiga toxins is often also associated with lung and nervous system damage.

    Read more here…

    Tyler Durden
    Sat, 04/15/2023 – 18:30

  • Visualizing Air Pollution Levels Around The World In 2022
    Visualizing Air Pollution Levels Around The World In 2022

    The World Health Organization (WHO) estimates that air pollution leads to 7 million premature deaths every year.

    Out of the six common air pollutants, particulate matter measuring 2.5 microns or smaller in diameter, or PM2.5, is accepted as the most harmful to human health. This is due to its prevalence in the atmosphere and the broad range of adverse health effects associated with its exposure, such as heart disease, stroke, lung cancer and chronic respiratory diseases.

    With that context in mind, this visualization from Visual Capitalist’s Selin Oğuz and Miranda Smith uses IQAir’s World Air Quality Report to map out the 2022 average PM2.5 concentrations in select major cities around the globe, expressed in micrograms per cubic meter (μg/m³).

    Understanding the WHO Air Pollution Guidelines

    Did you know that in 2019, only 1% of the global population lived in places where WHO global air quality guidelines were met?

    Designed to protect public health from the harmful effects of air pollution, the guidelines cover a range of air pollutants, including particulate matter, ozone, nitrogen dioxide, sulfur dioxide, and carbon monoxide.

    The healthy limits for PM2.5 are set at an annual average of 0-5 μg/m³.

    WHO Classification Annual Average PM2.5 Concentration (μg/m³) % of countries within classification, 2022*
    WHO Air Quality Guideline 0 – 5 9.9%
    Interim Target 4 5.1 – 10 18.3%
    Interim Target 3 10.1 – 15 19.8%
    Interim Target 2 15.1 – 25 28.2%
    Interim Target 1 25.1 – 35 9.9%
    Exceeds Target Levels 35.1 – 50 7.6%
    Exceeds Target Levels > 50 6.1%

    *Percentages are calculated as a proportion of the 131 countries that had sufficient air quality data and were included in IQAir’s World Air Quality Report in 2022.

    According to IQAir’s World Air Quality Report, only 13 countries or territories met the recommended concentration of PM2.5 in 2022. Among them were Australia, Finland, Puerto Rico, Iceland, Bermuda, and Guam.

    Above this guideline, many countries fell within the four interim targets, while nearly 14% recorded air pollution levels that exceeded all target levels.

    The Effects of Air Quality on Mortality

    While it can be a little difficult to grasp what the above concentrations represent, thinking of them in terms of their effect on mortality can shed some light on their significance.

    According to the WHO, non-accidental mortality rates multiply by 1.08 per 10 µg/m³ increase in PM2.5 concentration, but only up to 35 μg/m³. Above that, mortality growth rates may not be linear, resulting in many more deaths.

    Here is an example to highlight what that means.

    • Say that, for a population living within the WHO PM2.5 guideline, the non-accidental mortality rate is arbitrarily set to 100 deaths for a given period.

    • If this area’s PM2.5 concentration goes up to 10 μg/m³, putting them at Interim Target 4, they would see 104 deaths in that same amount of time.

    • At Interim Target 3, where their PM2.5 concentration would be 15 μg/m³, they would see 108 deaths.

    • At Interim Target 2, they’d see 117.

    • Finally, at Interim Target 1, they’d see 126.

    Beyond Interim Target 1 (above 35 μg/m³), deaths would potentially grow much faster. As of 2022, around 14% of countries report levels above this threshold, including Chad, India, Pakistan, Qatar, and Nigeria.

    The State of Air Pollution Around the World

    While many cities in North America and Europe have seen steady and relatively lower PM2.5 concentrations during the last few years, many cities (especially those in Asia) have been making strides in lowering their air pollution levels.

    Nonetheless, many of them still record PM2.5 concentrations that are more than six times the WHO guideline.

    City 2022 annual average PM2.5 concentration (μg/m³) 2018 annual average PM2.5 concentration (μg/m³)
    🇪🇬 Cairo, Egypt 47.4 N/A
    🇮🇳 Mumbai, India 46.7 58.6
    🇦🇪 Dubai, UAE 43.7 55.3
    🇮🇩 Jakarta, Indonesia 36.2 45.3
    🇳🇬 Lagos, Nigeria 36.1 N/A
    🇨🇳 Beijing, China 29.8 50.9
    🇵🇪 Lima, Peru 25.6 28
    🇲🇽 Mexico City, Mexico 22.1 19.7
    🇨🇳 Guangzhou, China 21.3 33.2
    🇵🇭 Manila, Philippines 14.6 N/A
    🇦🇷 Buenos Aires, Argentina 14.2 12.4
    🇸🇬 Singapore, Singapore 13.3 14.8
    🇮🇹 Rome, Italy 12.6 N/A
    🇰🇪 Nairobi, Kenya 11.5 N/A
    🇷🇺 Moscow, Russia 10.8 10.1
    🇧🇷 Rio de Janeiro, Brazil 10.6 N/A
    🇺🇸 Los Angeles, USA 10.5 14.4
    🇺🇸 New York, USA 9.9 N/A
    🇬🇧 London, UK 9.6 12
    🇯🇵 Tokyo, Japan 9.2 13.1
    🇨🇦 Toronto, Canada 8.5 7.8
    🇨🇦 Vancouver, Canada 7.6 N/A
    🇳🇴 Oslo, Norway 6.9 8.2
    🇿🇦 Cape Town, South Africa 6.7 N/A
    🇺🇸 Miami, USA 6.4 7.8
    🇦🇺 Perth, Australia 4.9 N/A
    🇦🇺 Sydney, Australia 3.1 7.6

    Most parts of the world did not meet the annual WHO recommendation for clean and healthy air in 2022.

    However, the cost of inaction toward cleaner air is very high. In addition to the millions of premature deaths each year, the global cost of health damages associated with air pollution currently sits at $8.1 trillion.

    Unfortunately, things that are integral to our quality of life, such as industrial activities, transportation, energy production, and agricultural practices, are also the leading causes of air pollution around the world.

    As such, a multi-faceted approach to lowering pollution is essential to protect lives, especially to benefit those already more vulnerable to poor air quality, such as kids and the elderly.

    Tyler Durden
    Sat, 04/15/2023 – 18:00

  • Lula: Peace Club To De-Dollarization
    Lula: Peace Club To De-Dollarization

    Authored by Andrew Korybko via The Automatic Earth blog,

    Brazilian President Lula was successful in reaching an agreement to de-dollarize his country’s trade with China, the significance of which was earlier explained in the context of his country’s grand strategy here, but failed to convince his counterpart to join a so-called “peace club” on Ukraine during their summit. This is no small shortcoming either since it was promoted by his Foreign Minister as one of the reasons behind his trip in an interview that he gave to the Financial Times (FT) late last month.

    Globally prominent outlets such as BloombergFrance24, the US Government-run “Radio Free Europe/Radio Liberty” (RFERL), and others all accordingly reported that this issue would be high on the agenda during Lula’s talks with President Xi. His supporters on social media also went wild getting everyone’s expectations up about this as well, even though “Brazil & China Are Poles Apart When It Comes To Their Envisaged End Games In Ukraine” so it was never likely that anything would come of this.

    While China, India, and South Africa have consistently abstained from anti-Russian UNGA Resolutions, Brazil bucked the BRICS trend by always voting against Russia except when it came to suspending it from the Human Rights Council. Lula became the first BRICS leader to personally condemn Russia in his joint statement with Biden back in February, after which he ordered his diplomats to vote in support of the latest anti-Russian UNGA Resolution later that same month.

    Foreign Minister Vieira was obviously well aware of the sharp differences between Brazil and China’s officially envisaged end games to this conflict yet he still made it seem to FT like there was a chance that the People’s Republic would tacitly support his country’s position via participation in the “peace club”. That was nothing more than wishful thinking, which belied Brazilian diplomats’ refusal to acknowledge China’s principled approach to this conflict since they in hindsight seemed to assume that it was flexible.

    Reality slapped them and their supporters in the face upon the publication of the joint Brazilian-Chinese communique on Friday, which can be read in English on the official website of the Brazilian Ministry of Foreign Affairs here. The ninth paragraph of that document will now be shared in full so as to prove Lula’s failure to sway President Xi to his country’s side contrary to the unrealistic expectation that Vieira set for his trip when talking to the FT late last month:

    “Both parties stated that dialogue and negotiation are the only viable way out of the crisis in Ukraine and that all efforts leading to a peaceful solution to the crisis must be encouraged and supported. Brazil received in a positive way the proposal by China that offers reflections conducive to the search for a peaceful solution to the crisis. China received in a positive way the efforts by Brazil in favour of peace. The parties made an appeal for more countries to play a constructive role in the promotion of a political solution to the crisis in Ukraine. The parties decided to keep in contact on this matter.”

    As can be seen, absolutely nothing of tangible significance came from Lula’s over-hyped “peace club” proposal. This paragraph of their joint statement is purely perfunctory and simply acknowledges their shared interest in peace without touching upon their sharp differences in terms of how this should be achieved. The “positive way” in which China “received” “the efforts by Brazil in favour of peace” is similar in spirit to Russia’s reported support of the optics connected to Lula’s peace rhetoric.

    What’s meant by this was explained more in detail here last week but just refers to Russia and China’s interest in showing the world that the international community wants peace as soon as possible instead of indefinitely perpetuating this proxy war. Their soft power interests in no way even remotely imply endorsement of Lula’s envisaged end game as articulated in his joint condemnation of Russia with Biden and the anti-Russian UNGA Resolution that he ordered his country’s diplomats to vote in support of.

    China wasn’t ever going to be manipulated into de facto taking the US’ political side in this conflict against Russia by dint of joining Lula’s “peace club” and thus extending credence to his hostile demand that their shared BRICS partner immediately withdraw from all the territory that Kiev claims as its own. Doing so would have discredited President Xi’s signature peace proposal that his diplomats unveiled on the one-year anniversary of the conflict and which he discussed at length with President Putin in March.

    Lula therefore failed in his function as Biden’s “Trojan Horse” for tricking the Chinese leader into informally adopting an anti-Russian policy, but this unfriendly gamble didn’t spoil their much larger success in agreeing to de-dollarize bilateral trade. About that, while it’s indisputably a positive development that’ll accelerate the global systemic transition to multipolarity, his Finance Minister Fernando Haddad made it clear that neither this nor the trip in general were aimed against the US.

    In his own words, “It doesn’t make sense to get closer to China and move away from the United States. We want the best relations with the United States and the European Union.” This aligns with the insight that was hyperlinked to in the introduction regarding Brazil’s grand strategy, which was elaborated upon in this piece here from Friday that discusses the significance of Lula’s reported plans to launch a global influence platform in joint partnership with the US Democrats.

    To summarize, he believes that Brazil can “balance” – however clumsily and imperfectly – between de-dollarizing with China and aggressively propagating liberalglobalism across the world with the US, thus enabling his country to preemptively avert potentially disproportionate dependence on either. Relations with Russia are limited in this paradigm to commodities (including energy investments) and cooperation on BRICS’ new reserve currency, which are important but pale in comparison to China and the US’ roles.

    All told, the grand strategic significance of Lula’s de-dollarization success with China far outweighs his failure to trick it into tacitly adopting an anti-Russian policy by joining his proposed “peace club”, but the second-mentioned outcome still deserves to be discussed. Those who expected this to happen must cogently account for the fact that it didn’t occur, though without resorting to the conspiracy theories that have become popular among his supporters, if they want to retain a semblance of credibility.

    *  *  *

    Support the Automatic Earth via Patreon.

    Tyler Durden
    Sat, 04/15/2023 – 17:30

  • Thieves Steal 2 Million Dimes Worth $200,000 From Big Rig Parked In Philadelphia Walmart
    Thieves Steal 2 Million Dimes Worth $200,000 From Big Rig Parked In Philadelphia Walmart

    Talk about taking QE to another level.

    Today in “if Fed policy was an 18-wheeler” news, a trailer containing 2 million dimes was broken into and looted in Northeast Philadelphia this week.

    The trailer contained “hundreds of thousands of dollars” worth of dimes, 6ABC reported.

    After a discovery of the trailer was made at 6AM on Thursday morning, police commented that roughly 2 million dimes, worth about $200,000 were stolen. 

    The truck had $750,000 in dimes in it altogether. Many were found strewn about in a Walmart parking lot where the trailer was parked. 

    The dimes had been picked up at the Philadelphia Mint on Wednesday, but the driver of the truck went home to sleep before planning to drive the next day to Florida. 

    Capt. Jack Ryan of Northeast Detectives commented: “This is common practice – to pick up a load going to Florida and go home for the night, get to sleep, and get on the road in the morning.”

    He didn’t comment on the driver’s decision to leave $750,000 in dimes in a trailer in the Walmart parking lot overnight, however. 

    “They were trying to cross-load the dimes into other things. There are dimes all over the parking lot,” Ryan added, telling 6ABC.

    Police are reviewing camera footage to try and get a suspect description.

    One bystander asked: “I feel like if they try to go to the bank and cash it in, they’re going to get caught. They’ll be like, ‘Well, where did you get all of these dimes from?'”

    Oh and don’t worry: we’re sure by next week the incident will be used as an example of why we absolutely must use central bank digital currencies. 

    Tyler Durden
    Sat, 04/15/2023 – 17:00

  • US Arms Industry Planning 1st Taiwan Trip In Years To Talk Joint Production
    US Arms Industry Planning 1st Taiwan Trip In Years To Talk Joint Production

    Authored by Dave DeCamp via AntiWar.com,

    Around 25 US defense contractors plan to send representatives to Taiwan next month, marking the first time the arms industry will send a delegation to the island since 2019, Nikkei Asia reported this week.

    Rupert Hammond-Chambers, president of the US Taiwan Business Council, said the delegation will look to boost cooperation with Taiwan’s industry and wants to explore jointly producing weapons. The arms that Taipei is interested in producing include drones and ammunition.

    Taiwan’s domestic-made Teng Yun 2 drone, via Asia Times

    The planned arms industry trip to Taiwan comes as the US is looking to ramp up arms sales and general military cooperation with Taiwan, which will further exacerbate tensions with Beijing.

    The delegation plans to meet with Taiwanese President Tsai Ing-wen, who recently provoked major Chinese military drills by meeting with US House Speaker Kevin McCarthy in California.

    When asked about the prospect of US companies jointly producing arms with Taiwan, a Biden administration official expressed support for the idea.

    “From a very high-level perspective, we think that co-production arrangements make sense, but we need to take a look at them on a case-by-case basis, and it has to be at the request of US industry,” the official told Nikkei.

    Since Washington severed diplomatic relations with Taipei in 1979, the US has always sold weapons to Taiwan. But the US is now looking to expand support by providing billions in military aid included in the 2023 National Defense Authorization Act (NDAA).

    Some of the Taiwan aid has hit a snag with the appropriations committees, but the Pentagon has said it plans to use the $1 billion in Presidential Drawdown Authority to start arming Taiwan. The authority is what President Biden has been using to arm Ukraine by sending weapons directly from US military stockpiles.

    Tyler Durden
    Sat, 04/15/2023 – 16:30

  • The Biden Administration Is Once Again Tightening Rules On Vehicles Emissions
    The Biden Administration Is Once Again Tightening Rules On Vehicles Emissions

    It’s a case of Joe Biden versus the free market. 

    Recall, just yesterday, we wrote about how, despite enormous subsidies, EV adoption in the United States was slowing. In other words, it turns out, not everybody shares the virtue signaling stance of blindly switching to a more expensive method of driving with more complex refueling demands…just because the government “said so”.

    Enter the Biden administration, yet again, which is now unveiling what Fox News is calling “the most aggressive tailpipe emissions ever crafted” to try and further the push into EVs.

    The new rules proposed by the EPA and White House “will impact car model years 2027 through 2032”. The White House claims they will result in “carbon emission reductions of nearly 10 billion tons by 2055 and would save consumers an average of $12,000 over the lifetime of vehicles,” the report says.

    The White House stated: “Cars and truck manufacturers have made clear that the future of transportation is electric. The market is moving.”

    It added: “As a car enthusiast and self-proclaimed car guy, President Biden is seizing the moment. His Investing in America agenda is expanding domestic manufacturing and accelerating adoption of zero-emission vehicles, including battery electric, plug-in hybrid electric, and fuel cell electric vehicles.”

    The administration also estimates that the new rules will “reduce oil imports by 20 billion barrels”.

    Meanwhile, critics state the obvious: that new rules on emission standards will make the cost of all vehicles rise. If its rules are enacted, “67% of new sedan, crossover, SUV and light truck purchases could be electric by 2032,” the White House predicts. 

    Myron Ebell, the director of the Competitive Enterprise Institute’s Center for Energy and Environment told Fox News: “The Biden administration is trying to bend every federal rule they can find to force people into buying EVs. There is still a market that allows drivers to buy the vehicles of their choice, but government coercion is rapidly limiting those choices.” 

    He concluded: “If Biden policies are successful, we will soon have a choice between buying an EV and not being able to afford a vehicle at all.”

    Conspicuously, the White House didn’t mention any restrictions or concerns about the way that heavy metals are being mined for use in EV batteries, because – well, child labor and toxic work conditions in continents in Africa aren’t in vogue, popular, trendy talking points.

    But…but…carbon!

    Tyler Durden
    Sat, 04/15/2023 – 16:00

  • SEC Sides With Conservatives Over Launching PayPal Discrimination Probe
    SEC Sides With Conservatives Over Launching PayPal Discrimination Probe

    Authored by Kevin Stocklin via The Epoch Times (emphasis ours),

    The Securities and Exchange Commission (SEC) sided with conservative investors this week in their request to investigate what they say is PayPal’s systematic political and religious discrimination against customers.

    Over the objections of PayPal’s management, the SEC allowed a proposal by the National Center for Public Policy Research (NCPPR) to go to a shareholder vote at the company’s next annual meeting. This decision follows a similar decision on March 29, in which the SEC green-lighted a proposal regarding alleged political and religious discrimination at JPMorgan Chase, America’s largest bank.

    In an April 10 letter to PayPal’s attorneys, the SEC stated that NCPPR’s proposal “requests that the board conduct an evaluation and issue a report within the next year evaluating how it oversees risks related to discrimination against individuals based on their race, color, religion (including religious views), sex, national origin, or political views, and whether such discrimination may impact individuals’ exercise of their constitutionally protected civil rights.”

    Responding to PayPal’s request to block the proposal from going to a shareholder vote, the SEC stated: “We are unable to concur in your view that the Company may exclude the Proposal under Rule 14a-8(i)(7). In our view, the Proposal transcends ordinary business matters.”

    PayPal had argued that its shareholders should not consider NCPPR’s request because the issue of viewpoint discrimination is part of the company’s “ordinary business operations” and that “the proposal seeks to ‘micro-manage’ the company by probing too deeply into matters of a complex nature upon which shareholders, as a group, would not be in a position to make an informed judgment.”

    The NCPPR proposal stated, among other things, that “companies that provide banking or financial services are essential pillars of the marketplace. On account of their unique and pivotal role in America’s economy, many federal and state laws already prohibit them from discriminating when providing financial services to the public. And the UN Declaration of Human Rights, consistent with many other laws and the U.S. Constitution, recognizes that ‘everyone has the right to freedom of thought, conscience and religion.’”

    Conservatives Charge Viewpoint Discrimination

    We know from news stories that PayPal has been discriminating on the basis of viewpoints, shutting down accounts that differ from their ‘woke’ political principles,” Scott Shepard, a director at NCPPR and co-author of the proposal, told The Epoch Times. “We’re giving them a chance with this to consider ways to rectify those problems.”

    PayPal has scored well in terms of its support for progressive causes. Standard & Poor’s ranked it a 49 out of 100 in the social-justice category of its environmental, social, and governance (ESG) score, more than double the industry average of 22, though below the industry best of 90. Its overall ESG rating increased steadily from 18 in 2018 to 58 today.

    The logo of online payment company PayPal during LeWeb 2013 event in Saint-Denis near Paris on Dec.10, 2013. (Eric PiermontI /AFP via Getty Images)

    PayPal scored a perfect 100 percent on the Corporate Equality Index (CEI), published by the Human Rights Campaign (HRC). The HRC publishes various corporate indices that it says are “benchmarks of LGBTQ-inclusive policies, practices, and benefits of our nation’s employers.” Noting left-wing philanthropist George Soros’s funding of the HRC, some analysts have suggested that campaigns such as Bud Light’s endorsement of trans activist Dylan Mulvaney were part of a standard corporate practice of pursuing high scores from ESG rating agencies and progressive organizations like the HRC. Anheuser-Busch, the brewer of Bud Light beer, scored 100 on HRC’s Corporate Equality Index.

    Read more here…

    Tyler Durden
    Sat, 04/15/2023 – 15:30

  • Anheuser-Busch Transitions Into Damage Control Mode – And People Aren't Buying It
    Anheuser-Busch Transitions Into Damage Control Mode – And People Aren’t Buying It

    After rolling out a Bud Light ad campaign featuring flamboyant transgender influencer Dylan Mulvaney – whose ditzy caricature of a woman mocks decades of actual progress by feminists (who have apparently been wokeshamed into silence), Anheuser-Busch’s damage control team kicked into action on Friday after the Mulvaney ad sparked a massive backlash.

    “We never intended to be part of a discussion that divides people,” said Anheuser-Busch InBev CEO Brendan Whitworth in a carefully crafted, heavily focus-grouped press release which failed to mention Mulvaney, Bud Light, or transgender issues. “We are in the business of bringing people together over a beer.”

    I care deeply about this country, this company, our brands and our partners. I spend much of my time traveling across America, listening to and learning from our customers, distributors and others,” the statement continued. “Moving forward, I will continue to work tirelessly to bring great beers to consumers across our nation.”

    Translation: Let’s all forget about this over a beer.

    The company then went with a ‘hey fellow beer drinkers’ ad campaign, tweeting “TGIF” along with a picture of a Bud Light can. It was received about as well as one would imagine… with a massive ratio of people commenting vs. ‘liking’ it.

    The campaign was mocked mercilessly.

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    More via The Epoch Times (emphasis ours),

    Brand Damage

    Some analysts and investors said that the damage likely won’t sink Anheuser-Busch, but the damage has been done to the Bud Light brand.

    The logo of Anheuser-Busch InBev pictured outside the brewer’s headquarters in Leuven, Belgium, on Feb. 28, 2019. (Francois Lenoir/Reuters)

    “I simply don’t understand why they hired the person who was doing the marketing,” Oxygen Financial CEO Ted Jenkin told Fox News Thursday. “I mean, if your target customer is Kid Rock, and then all of a sudden you decide to go to RuPaul, that just doesn’t make any sense at all.

    Because Bud Light generally targets “blue-collar workers and younger adults that are 25 to 29 years old,” the campaign should be problematic for the firm. “So, I don’t think that this one campaign is going to colossally destroy the brand,” it said.

    “But certainly short term, it puts doubt into their loyal drinkers of Bud Light to say, ‘Do I want to continue to be drinking Bud Light based upon who they’re showing representing Bud Light?’” he asked. “Anytime a company puts on a national spokesperson that has backlash, it certainly can affect your business.”

    A research fellow with the National Center for Public Policy Research wrote this week that Anheuser-Busch is owned by InBev, a multinational conglomerate worth tens of billions of dollars. One product, he wrote, won’t do a huge amount of damage to the brand or value.

    But that seems like a plausible result. The Venn diagram of people interested in drinking Bud Light and those eager to support the issue at the sharp edge of the wokist culture war is pretty much just two circles vaguely near one another,” Shepard wrote. “While InBev investors won’t suffer too much, distributors of AB products and others who do business with the company surely will.”

    Shepard further stipulated in the article that the “bottom-line effects of wokeness are clearer at other American companies that have abandoned fiduciary duty for politics,” referring to large corporations’ having adopted left-wing talking points and narratives around race and sex.

    Tyler Durden
    Sat, 04/15/2023 – 15:00

  • Fungal Outbreak Affects Over 90 Workers At Michigan Paper Mill
    Fungal Outbreak Affects Over 90 Workers At Michigan Paper Mill

    Authored by Jane Ngyuen via The Epoch Times (emphasis ours),

    Nineteen confirmed cases of blastomycosis, a type of fungal infection, have been linked with a northern Michigan paper mill, with a further 74 people believed to be probable cases, according to local health authorities.

    A medical illustration of Blastomyces, the fungus that causes blastomycosis. (Courtesy of CDC)

    Public health officials said on April 7 that both confirmed and probable cases are workers at Escanaba Billerud Paper Mill infected with Blastomycosis after showing symptoms. A probable case is a person with symptoms with a positive antigen or antibody test.

    Blastomycosis is an infection caused by a fungus called blastomyces that live in soil and decaying wood.

    Earlier on Feb. 28, the Public Health Delta and Menominee Counties (PHDM) was first alerted of several atypical pneumonia infections in individuals employed at the mill.

    On March 3, the mill learned of the infections from the PHDM.

    The exact source of the fungus has not yet been found. However, it is believed that it arrived on damp and rotten wood at the mill.

    Although the source of the infection has not been established, we continue to take this matter very seriously and are following recommendations from health and government officials and implementing numerous, proactive steps to protect the health and safety of our employees, contractors, and visitors,” Brian Peterson, the mill’s vice president of operations, said in a statement.

    An investigation into an outbreak of blastomycosis is ongoing and includes health and safety officials at the local, state, and federal levels.

    Experts said that an outbreak that affects a large number of people is highly unusual as the fungal disease is not usually transmitted from person to person.

    Workers at the mill are now being asked to wear company-provided N95 masks. Deep cleaning of ventilation systems in the plant is underway, as advised by health officials, to avoid disease spreading.

    Billerud AB, an American subsidiary of the Swedish pulp and paper manufacturer, operates the mill.

    About Blastomycosis

    According to the U.S. Centers for Disease Control and Prevention (CDC), the Blastomyces fungus lives in moist soil and decomposing matter.

    People can get blastomycosis after breathing in fungal spores from the air, which can infect the lungs.

    Most people who breathe in the spores don’t get sick, but some might experience the following symptoms: cough, fever, chest pain, difficulty breathing, night sweats, fatigue, weight loss, muscle aches, and joint pain.

    In severe cases, the fungus spreads from the lungs to other organs, including the muscles, bones, and brain. It can take anywhere from three weeks to three months for symptoms to appear after exposure to the fungus, the CDC says.

    Read more here…

    Tyler Durden
    Sat, 04/15/2023 – 14:30

Digest powered by RSS Digest

Today’s News 15th April 2023

  • China is Preparing For War; Is The US Ready?
    China is Preparing For War; Is The US Ready?

    Authored by Andrew Thornebrooke via The Epoch Times (emphasis ours),

    The ammunition is running low, casualties are immense, medicine and other critical supplies have not come for weeks, and a nuclear attack on the American homeland is imminent.

    A US Air Force Lockheed Martin F-22 Raptor stealth fighter aircraft at Joint Base Langley-Eustis in Hampton, Virginia, on Dec. 15, 2015. (SAUL LOEB/AFP via Getty Images)

    It is a dramatic scene, more closely resembling a Hollywood drama than any war that the United States has actually fought in the last half-century. It is nevertheless what many expect a war between the United States and communist China could look like this decade.

    Both the United States and China are investing record-breaking sums in building up their military capabilities. Leadership on both sides increasingly appears to consider such a conflict as inevitable, despite rhetoric to the contrary.

    The cause for that mutual enmity is the Chinese Communist Party’s (CCP) claim that democratic Taiwan belongs to China, and CCP leader Xi Jinping’s desire to force that unification within a few years’ time.

    Xi has ordered the regime’s military wing to prepare for war, and to be ready to launch an invasion of Taiwan by 2027.

    Preparing for what would be history’s most ambitious amphibious assault is not the same as actually launching it. But, should the worst occur, the Biden administration or its successor will have to decide either to join the fray, or to let Taiwan stand on its own and fight for its freedom.

    Before U.S. leadership decides on that question, however, it must answer another, more foundational one: Can the United States win a war with China?

    Chairman Mike Gallagher (R-Wis.) presides over the first hearing of the U.S. House Select Committee on Strategic Competition between the United States and the Chinese Communist Party, in the Cannon House Office Building in Washington on Feb. 28, 2023. (Kevin Dietsch/Getty Images)

    ‘The Window of Maximum Danger’

    Rep. Mike Gallagher (R-Wisc.) is more invested in the new cold war between the United States and China than most.

    Tasked with leading Congress’ new House Select Committee on Strategic Competition with the CCP, he is one of the few movers and shakers in the legislative branch directly engaged in developing an action plan to defend the American people, its economy, and values from CCP aggression.

    For him, Russia’s ongoing conquest of Ukraine, and the United States’ failure to deter it, contain all the lessons necessary to prepare for what comes next in Taiwan.

    “If we don’t learn the right lessons from the failure of deterrence in Ukraine, authoritarian aggression and the CCP’s malign influence will spread to the Indo-Pacific, and our New Cold War with the Chinese Communist Party could quickly become hot,” Gallagher told The Epoch Times.

    “To prevent this, we have to act with a sense of urgency and do everything we can to deter a CCP invasion of Taiwan.”

    Customers dine near a giant screen broadcasting news footage of aircraft under the Eastern Theatre Command of the Chinese military taking part in a combat readiness patrol and “Joint Sword” exercises around Taiwan, at a restaurant in Beijing on April 10, 2023. (Tingshu Wang/Reuters)

    That plan is much the same as it has been since 1979, when the United States passed the Taiwan Relations Act and agreed to provide the island with the arms necessary to maintain its self-defense.

    The strategic landscape 44 years ago was something altogether different, however, and the number of weapons and systems that Taiwan now requires to hold the CCP at threat are immense.

    The way Gallagher sees it, neither Taiwan nor the United States is prepared for the possibility of war with China.

    Speaking back in November of 2021, Gallagher warned that, “if we went to war in the Taiwan Strait tomorrow, we’d probably lose.”

    Gallagher is careful now to avoid similar doomspeak but, when asked if he still agreed with that assessment, his optimism for the United States’ performance in a war with China is palpably limited.

    “If the Chinese Communist Party invaded Taiwan today, we would not be well positioned to defend our friend, our interests, or American values in the Indo-Pacific,” Gallagher says.

    The United States must choose, he believes, to arm Taiwan to the teeth now or come to Taiwan’s aid at a much greater cost later.

    Either way, the choices the United States makes now, he says, will largely determine the conditions of victory and defeat at a later date. To that end, Congress must unite to arm Taiwan and systematically counter the CCP’s malign influence at every opportunity.

    “We are in the window of maximum danger,” Gallagher says, “and if we are going to ensure that it’s the U.S.—not the CCP—writing the rules of the 21st century, we need to unite in overwhelming bipartisan fashion to combat CCP aggression.”

    Read more here…

    Tyler Durden
    Fri, 04/14/2023 – 23:40

  • "We've Been Warned:" El Nino Watch Initiated As Ag-Industry In Crosshairs
    “We’ve Been Warned:” El Nino Watch Initiated As Ag-Industry In Crosshairs

    This week, the Climate Prediction Center of the National Oceanic and Atmospheric Administration released an El Niño Watch, indicating the increasing likelihood of the weather-altering phenomenon developing in the Pacific Ocean. If El Niño does form, it could result in heavy rainfall and heatwaves in specific regions across the globe, potentially causing disruptions in the agricultural industry.

    A watch is issued when conditions are favorable for the development of El Niño within the next six months. The Climate Prediction Center said probabilities have risen over the last month from 61% to 74% of an El Niño emerging between August and October. 

    https://platform.twitter.com/widgets.js

    El Niño refers to a climate pattern that arises when the Pacific Ocean’s equatorial region experiences warming, which then reacts with the atmosphere to cause weather shifts worldwide. 

    On the commodity front, Bloomberg analyst Jake Lloyd-Smith said El Niño might impact harvests in the second half of the year: 

    So the parade of warnings that a disruptive El Nino pattern may be on the way is critical for commodities as it carries the potential to roil palm oil, sugar, and cocoa to list just a few.

    The latest to wade are the folk at the US government, who’ve issued an El Nino watch. The pattern forms when the equatorial Pacific warms and reacts with the atmosphere to disrupt weather the world over. In this neighborhood, it can crimp rainfall, drying out crops and possibly cutting harvests. In India and New Zealand, forecasters have also signaled their concern recently. That follows similar messages from Australia, Peru, and the Philippines. The pack, it seems, is well and truly on the move.

    There’s a two-step process at work here. First, while the probability of an El Nino setting in has been increasing, it’s not a certainty yet. And second, even if one does form, the events vary tremendously in their intensity. The one that sticks in my mind is the appalling event of 1997-98 that played out as a vicious backdrop during the Asian Financial Crisis. Right now, we’ve been warned.

    El Niño’s effect on crop yields could further strain the already stressed global food supply chain, leading to an increase in prices and making it harder for central bankers to cool inflation. As readers know, elevated food prices and the soaring cost of living in emerging market nations can ignite social unrest, creating a perfect storm of adverse economic and political consequences. 

    Is this all setting the stage for a major food crisis this year? 

    Tyler Durden
    Fri, 04/14/2023 – 23:20

  • China's 'M&A King' Bao Fan Vanished, Rocking Country’s Financial Sector
    China’s ‘M&A King’ Bao Fan Vanished, Rocking Country’s Financial Sector

    Authored by Shawn Lin and Olivia Li via The Epoch Times (emphasis ours),

    China’s “M&A King” Bao Fan has been missing for over 50 days, sending shockwaves throughout the country’s financial and political circles.

    The headquarters of China Renaissance is seen in Beijing on Feb. 27, 2023. (Greg Baker/AFP via Getty Images)

    On April 3, China Renaissance Group, the company Bao founded, announced a trading halt, suspending trading from 9:00 am that day. The release of its annual performance report for 2022 has also been deferred as the auditors cannot issue an audit report in Bao’s absence.

    Bao is the company’s chairman, executive director, chief executive officer, and controlling shareholder.

    On Feb. 16, the company’s board of directors announced that they had been unable to contact Bao, and on Feb. 26, they revealed that he was “cooperating” with authorities’ investigations.

    If we take Feb. 16 as the starting date, Bao has been missing for over 50 days.

    Impressive Resume

    Bao, born in 1970, founded China Renaissance Group in 2005 at the age of 35.

    Prior to that, he served as the chief strategy officer of China-based IT services and software company Asiainfo Group. He also worked at international financial companies such as Morgan Stanley and Credit Suisse, accumulating seven years of investment banking experience on Wall Street.

    Bao’s influence in the Chinese financial industry is enormous.

    In 2015, China Renaissance Group facilitated four major mergers and acquisitions in China’s Internet industry: the merger of ride-hailing giants Didi and Kuaidi, the merger of classifieds site 58.com and Ganji.com, the merger of lifestyle e-commerce platform Meituan and online review site Dianping, and the merger of online travel agencies Ctrip and Qunar.

    Since then, Bao has been involved in almost all major financing, mergers and acquisitions, and IPO deals in China’s internet industry.

    According to IT Juzi, a Chinese business information service provider, China Renaissance Group has brokered 439 public transactions with 727 different investors from 2014 to 2021, including numerous big-name investors. His reputation as the “King of M&A” in China is well-deserved.

    Bank of China Chairman Implicated

    The day after Bao went missing, Liu Liange, chairman, executive director, and Chinese Communist Party (CPP) boss at the Bank of China, was removed from his positions.

    One month later, the Bank of China claimed that Liu had “voluntarily” resigned. On March 31, the Central Commission for Discipline Inspection announced that Liu was under investigation for serious law violations.

    Liu had worked in China’s banking system since the 1990s, holding key positions, including 11 years at the China Exim Bank and later serving as the Party boss and chairman of the Bank of China.

    A man walks past a booth of the Bank of China at the Main Press Centre of the 2022 Winter Olympics in Beijing on Jan. 28, 2022. (Fabrice Coffrini/AFP via Getty Images)

    As reported by Beijing Caixin, sources close to the Bank of China said that Liu’s case is likely connected to the recent investigation into Bao’s case.

    Before Liu’s downfall, several high-ranking executives at the Bank of China were taken away for investigation between July and September 2022.

    Early Repayment Clause

    Although China Renaissance Group has stated that its business and operations are currently running as usual, it has been noted that the company has signed loan agreements with specific clauses.

    In May 2021, China Renaissance Group announced that it had obtained its first syndicated loan since going public. The loan, totaling $300 million over a three-year period, was led by the Bank of Communications (Hong Kong) and involved other banks such as Citibank (Hong Kong), China Citic Bank International, and Bank of China (Macau).

    The financing agreement stipulates that if Bao is no longer the largest shareholder of China Renaissance Group or no longer serves as board chairman, the main lenders can cancel their commitments and demand immediate mandatory repayment of all outstanding loans under the financing.

    The market is concerned that if Bao cannot perform his duties for an extended period, creditors may lose confidence in China Renaissance Group, and the aforementioned $300 million loan may be subject to early repayment.

    China Renaissance Group has not responded to the request of The Epoch Times for comment by press time.

    Xi Targets Financial Sector

    Chinese leader Xi Jinping has been disciplining the financial sector in China, with dozens of personnel changes seen in bank executive positions this year. According to the CCP’s Central Commission for Discipline Inspection, in the first three months of 2023, at least ten high-level executives in China’s financial sector have been investigated.

    An outdoor screen shows live news coverage of Chinese leader Xi Jinping during the opening session of the National People’s Congress (NPC) at the Great Hall of the People, along a street in Beijing, on March 5, 2023. (Jade Gao/AFP via Getty Images)

    One week after Bao went missing, the Central Commission for Discipline Inspection published an article on Feb. 23 mentioning “finance” 16 times.

    The article claimed that the commission aimed to eliminate “political risks,” break the “financial elite”  and “Westernization” mindsets, rectify the industry’s “unspoken rules,” eliminate the mentality of “law does not punish the masses” and investigate issues such as “shadow shareholders” and the “revolving door.”

    Political commentator Ji Lin, who resides in Japan, told The Epoch Times on April 10 that as China’s economy continues to decline and the fiscal deficit becomes severe, debt crises may erupt at any time. Therefore, Xi is taking action in the financial system, attempting to ease the situation.

    Ji said that China’s financial sector is controlled by influential families, and through factional purges, Xi can replace key positions with his trusted individuals.

    Ji also said that China’s capital circle is full of unspoken rules involving collusion between officials and businessmen, where capital magnates receive illegal benefits and protection from officials and, in turn, act as officials’ hidden henchmen who help with reaping profit and money laundering.

    “With Bao Fan’s qualifications, he is likely such a henchman figure. Thus, if Bao is being investigated, many individuals associated with him may also fall,” Ji said.

    Ellen Wan contributed to this report.

    Tyler Durden
    Fri, 04/14/2023 – 23:00

  • Fewer Coal Power Plants Close In 2022 Than In Recent Years
    Fewer Coal Power Plants Close In 2022 Than In Recent Years

    Data from Ember’s fourth annual Global Electricity Review reveals that electricity generation from coal increased by 1.1 percent last year, which is in line with the average rate of growth in the last decade.

    As Statista’s Anna Fleck reports, Ember found that while the rate of new coal power plants opening did not increase, 2022 saw fewer coal power plants close than in any year since 2015. Analysts say this was due to countries seeking to hold onto back-up capacity.

    Infographic: Fewer Coal Power Plants Close in 2022 Than in Recent Years | Statista

    You will find more infographics at Statista

    Electricity data was analyzed from 78 countries, representing 93 percent of global electricity demand and includes estimated changes for the missing data.

    Tyler Durden
    Fri, 04/14/2023 – 22:40

  • Doug Casey On Why The US Is Headed Into Its 'Fourth Turning'
    Doug Casey On Why The US Is Headed Into Its ‘Fourth Turning’

    Authored by Doug Casey via InternationalMan.com,

    International Man: The economic, political, social, and cultural situation seems to have become increasingly volatile in the United States and more broadly in the West. Is this a unique situation or part of a recurring historical cycle?

    Authors William Strauss and Neil Howe introduced a popular theory in their book, The Fourth Turning, outlining the recurring generational cycles that have occurred throughout American history.

    What are your thoughts?

    Doug Casey: I read Strauss and Howe’s first book, Generations, when it came out back in 1992. I thought it was brilliant.

    Let me start off by recommending both Generations and The Fourth Turning to everybody. Both books offer quite a scholarly, readable, and prescient view of the cyclicality of history. And offer a very plausible forecast for the 2020s.

    History’s best seen as cyclical, rather than a straight-line progress to some preordained end the way both the Marxists and the Abrahamic religions see it. But then, Ecclesiastes has its famous quote that there’s nothing new under the sun.

    Plato in the Republic talks about how the younger generation—and we’re talking fourth century BC—can’t stand up to the moral values of their forefathers.

    Older people have always thought that the younger generation wouldn’t quite measure up. In recent American history, you’ll recall, the younger generation were the beatniks in the ’50s, the hippies in the ’60s, and the yuppies in the ’80s—so it’s a passing parade. Older people have a tendency to think the world is going downhill. Nothing new there. But there’s always a rebirth.

    Niccolò Machiavelli, in his Florentine Histories, said:

    Virtue gives birth to tranquility, tranquility to leisure, leisure to disorder, disorder to ruin… and similarly from ruin, order is born, from order virtue, from virtue, glory and good fortune.

    The bottom line is that societies arise from poverty through moral strength—and that brings them prosperity. But that prosperity brings on arrogance, and the arrogance brings on laziness, which brings on weakness and moral decline. Then they’re reduced to a condition of slavery and poverty again. Change is the only constant—except in human nature.

    As I look at the United States, it seems to me the peak of American culture was the time just before Teddy Roosevelt came into office. Teddy is certainly among the top five worst presidents. And there’s plenty of competition for that title.

    He was the first real “progressive” president; he wanted the government actively involved in all areas of life.

    Now, that’s not to say that Teddy Roosevelt wouldn’t have been a really great drinking pal, a wonderful guy to go camping with, a fun guy to have an intellectual conversation with. He had a lot of admirable personal values. But he was a nationalist, a statist, and a warmonger. That’s why I say he was a horrible president.

    The long-term trend of US overseas imperialism started with the Spanish–American War and the building of an overseas American empire in Cuba, Puerto Rico, the Philippines, and Hawaii—followed by World War I.

    The US has gone from being noninterventionist to now having many hundreds of bases around the world and trying to give orders to every other country in the world. That kind of arrogance always ends badly.

    As a civilization—a culture—the US has been on an accelerating path downhill for about 120 years now. That’s true even while science and technology have greatly increased the general standard of living. It’s a mistake to conflate a higher standard of living with higher moral values—that’s what Machiavelli was talking about.

    I question whether that trend will change—at least until we have a genuine crisis. Why not? Because a lot of the way a society acts comes from the way kids are brought up—the values that are inculcated in them when they’re young. And increasingly, kids are taught what I would call the wrong values.

    Saint Ignatius said this in the 17th century, and Lenin repeated it in the 20th century. They both said that if you indoctrinate someone in his youth, chances are you’ve directed his worldview for the rest of his life.

    Cultural Marxists are now totally in control of the US educational system, and have been for a couple of generations. That’s absolutely the case in the colleges and universities but also in the high schools and even in the grade schools. Kids are being taught to be socialists, ecowarriors, social justice warriors, and “woke” from an early age. It’s really serious.

    And it’s not a cyclical phenomenon. This is one of the few areas in which I take some issue with The Fourth Turning. The trend towards collectivism and statism seems to be a secular long-term trend that’s still accelerating.

    There are a few bright spots. Libertarians, for instance, are somewhat more prominent than in the past. But the fact that libertarians believe in personal freedom, in the face of a societal trend in the opposite direction, makes me tend to believe they’re actually genetic mutants. They’re just a small percentage of the population, whose nature has resisted the prevailing nurture.

    I say that, only partially because of my own experience. I grew up in what could—jokingly—be called a cannibalistic death cult and was imbued with all kinds of strange notions by nuns and priests at the schools that I went to. I rejected them intuitively and intellectually, but they still stick to you like tar. It can take years to wash off the effects of early indoctrination.

    I’m more of a maverick than most people are, however. Most just continue to believe what they’re taught as kids, reflexively and automatically—right or wrong. So I don’t think there’s really much hope of a serious change in the direction of American culture. At least until a major crisis—and the outcome of that is in doubt.

    International Man: OK. That’s the long-term trend. Where are we in the generational cycle now? Are we moving into the fourth turning and headed for a crisis?

    Doug Casey: Strauss and Howe take a cyclical point of view over the course of roughly 80 years, four generations.

    To very briefly summarize their theory, there are four “turnings”: a “high,” an “awakening,” an “unraveling,” and a “crisis.”

    Over the last couple of decades, we’ve been undergoing the unraveling, where old values fall apart. Next, Strauss and Howe predicted a crisis, starting about 2015, which tests the very existence of the society. Or at least the way it’s run.

    They go beyond seeing generations as being simply “liberal” or “conservative.” According to Strauss and Howe, there are four generational archetypes that last over a cycle of 80 years—20 years per generation—corresponding to the “turnings.”

    Without going into all the details, they see the baby boomers as being a “Prophet” Generation. The authors are ideologically oriented—fire and brimstone types—very much like Bernie Sanders on the left and Donald Trump on the right. Kind of biblically apocalyptic by nature.

    They were quite correct in defining the Generation X types as the so-called “Nomad” Generation. These are kids who learned to take care of themselves—and are not so ideological in the way they think.

    The Millennials are who are relevant at the moment. They correspond, in Strauss and Howe’s view, to the World War II generation. They’d be the frontline soldiers in the coming crisis and conflicts.

    International Man: What happens after a crisis? Is there a positive way forward?

    Doug Casey: Historically, the answer is, “Almost never”—in the short run. The best recent example is the French Revolution. It got worse with Robespierre—a Bernie Sanders of the era—followed by Napoleon. Or take the case of the Russian revolution. As necessary as it was to get rid of Nicholas II, it got worse with Lenin, and then it got even worse with Stalin. But even in those cases, France and Russia recovered.

    If it all comes unglued in the US over the next decade, those two revolutions could be templates. Look at the way leading Democrats think, and listen to what they’re saying. They’re echoing Robespierre and Lenin.

    The Republicans aren’t much better, because although they sometimes talk the talk of peace and personal freedom, they almost never walk the walk. The two major US parties—and people in the Red counties and the Blue counties—seem to really hate each other.

    It’s quite ugly sociologically. There are irreconcilable differences. They’re exacerbated by the fact we’re headed for a financial blow up. There’s no doubt about that.

    Some years ago, there was a poll taken among Generation X types. It turned out that more of them believed that space aliens were going to invade than that they were ever going to collect Social Security. People have very little faith in “the system” anymore, the society, or the government.

    If we go back to the beginning of the 20th century, the country really wasn’t very political at all. People worried about their own lives, their own families, and their own local communities. Americans shared a common culture, beliefs, and values—that’s no longer true. Now the country has become very politicized—everybody has a loud voice and they use votes as weapons against their neighbors. It’s become a nation of nasty busybodies.

    That makes me think the next upset will be something like a revolution. It’s likely to be really ugly, because we’re looking, simultaneously, at an economic catastrophe, political chaos, and a social and demographic upset—and probably a military situation as well. Government often sees war as a way to unite the country.

    So, what’s going to happen?

    I’ll hazard a guess that 50 years from now, the United States and, for that matter, most countries are not going to exist in anything like their present form. The best solution is a peaceful break up into smaller political subdivisions. As opposed to a civil war—which is a contest between one or more groups for the control of a central government.

    *  *  *

    The economic trajectory is troubling. Unfortunately, there’s little any individual can practically do to change the course of these trends in motion. The best you can and should do is to stay informed so that you can protect yourself in the best way possible, and even profit from the situation. That’s precisely why bestselling author Doug Casey just released Surviving and Thriving During an Economic Collapse an urgent new PDF report. It explains what could come next and what you can do about it so you don’t become a victim. Click here to download it now.

    Tyler Durden
    Fri, 04/14/2023 – 22:20

  • Advocacy Groups Call On Meta To Ban Minors For 'Dangerous' Metaverse
    Advocacy Groups Call On Meta To Ban Minors For ‘Dangerous’ Metaverse

    A letter was signed by dozens of advocacy groups and children’s safety experts asking Meta Platforms Inc. to halt all plans to allow minors into its new virtual reality world. 

    Airplay, the Center for Countering Digital Hate, and Common Sense Media, among others, were some of the groups that signed the letter. It was sent to Meta Chief Executive Officer Mark Zuckerberg on Friday, arguing that minors will face harassment and privacy violations on the virtual reality app, according to Bloomberg

    “Meta must wait for more peer-reviewed research on the potential risks of the metaverse to be certain that children and teens would be safe,” wrote the groups.

    Recall we were the first to point out “Dark Side Of Metaverse Exposed: Why Your Kids Need To Stay Away From VRChat” at the start of 2022. We showed screenshots from one YouTuber who revealed the massive problem in the metaverse: child exploitation and sexualization. 

    One month after our report, BBC News published a similar story. They found examples of child grooming, sexual material, racism, and rape threats. 

    Only weeks after our initial report, Oculus released a statement indicating the addition of a “personal boundary” (think of a personal bubble) that will protect users from being virtually assaulted by others.

    Back to the latter, which points to a report last month from the Center for Countering Digital Hate that found users under 18 are already facing harassment from adults on the app. Go figure… This is something we laid out over a year ago. 

    Researchers with the center witnessed 19 episodes of abuse directed at minors by adults, including sexual harassment, during 100 visits to the most popular worlds within Horizon Universe. –Bloomberg 

    Meta had announced plans to make Horizon Worlds available to users between the ages of 13 and 17 in February. While the platform was opened to users 18 years and above in 2021, the company has faced difficulties retaining users.

    A spokesperson for Meta said: 

    “Before we make Horizon Worlds available to teens, we will have additional protections and tools in place to help provide age-appropriate experiences for them.

    “Quest headsets are for people 13+ and we encourage parents and caretakers to use our parental supervision tools, including managing access to apps, to help ensure safe experiences.”

    The minimum age for the metaverse app is now 18. The letter continued, “Should Meta throw open the doors of these worlds to minors rather than pause to protect them, you would, yet again, demonstrate your company to be untrustworthy when it comes to safeguarding young people’s best interests.” 

    Tyler Durden
    Fri, 04/14/2023 – 22:00

  • California's Last Nuclear Power Plant Diablo Faces Closure Against Lawsuit
    California’s Last Nuclear Power Plant Diablo Faces Closure Against Lawsuit

    Authored by Elizabeth Dowell via The Epoch Times (emphasis ours)

    An environmental group on Tuesday sued to block Pacific Gas & Electric (PG&E) from seeking to extend the federal operating licenses for California’s last active nuclear power plant.

    The Diablo Canyon Nuclear Power Plant, in Avila Beach, Calif. on June 20, 2010. (Joe Johnston/The Tribune (of San Luis Obispo) via AP)

    A complaint filed in the San Francisco Superior Court by advocacy group “Friends of the Earth” asks the court to prohibit the utility from sidestepping its 2016 agreement with environmentalists and plant workers to close the twin-domed Diablo Canyon Nuclear Power Plant by 2025.

    In a Twitter post, the environmental group said, “We’re taking PG&E to court to make sure California’s last remaining nuclear plant is retired We won’t stop until the aging, destructive Canyon is closed for good!”

    Aerial view of the Diablo Canyon Nuclear Power Plant which sits on the edge of the Pacific Ocean at Avila Beach in San Luis Obispo County, Calif., on March 17, 2011. (Mark Ralston/AFP via Getty Images)

    Hallie Templeton, legal director for Friends of the Earth, called out PG&E for allegedly backing out of their agreement.

    “Contracts simply don’t vanish into thin air,” Templeton said in a statement. “Yet ever since California passed legislation supporting Diablo Canyon’s extension, PG&E has been acting as if our contract has disappeared. Setting aside the agreement to retire Diablo, there are myriad legal prerequisites for extending operations of a nuclear power plant, including federal decisions that states cannot dictate.

    “We hope our litigation can push PG&E to reconsider its potential breach and uphold its obligations, including preparing for the agreed-upon retirement.”

    The Diablo power plant runs along the Pacific Coast and has been operating since 1985.

    California is the birthplace of the modern environmental movement that, for decades, has had a fraught relationship with nuclear power, which doesn’t produce carbon pollution like fossil fuels but leaves behind waste that can remain radioactive for centuries, requiring special waste treatment.

    Nuclear Reactor Needed to Maintain Reliable Power

    The California legislature passed SB846 last year, which was signed by Democratic Gov. Gavin Newson, in an effort to extend the power plant’s operations for another five years, according to the bill.

    In March, Newson toured the Diablo Canyon Power Plant after it was announced that the plant may continue operating after its expiration date.

    “As we experienced during the record heat wave last September, climate change-driven extreme events are causing unprecedented stress on our power grid—the Diablo Canyon Power Plant is important to support energy reliability as we accelerate progress towards achieving our clean energy and climate goals. I look forward to our continued work with the Biden-Harris Administration and the Legislature to build a reliable and resilient clean electric system,” Newson said in a statement.

    The California Energy Commission ruled earlier this year that continuing Diablo’s operations past 2025 is needed to maintain reliable electricity supply throughout the state.

    Siva Gunda, the Energy Commission’s vice chair, said that Diablo is an important part of California’s energy options.

    “As California confronts a rapidly changing climate, extraordinary heat events and record energy demand are becoming increasingly ordinary. The state needs to keep all options on the table to protect public health and safety,” Gunda said in a statement to LA Times. “This includes maintaining Diablo Canyon’s operations.”

    In 2016, then Gov. Jerry Brown agreed to a proposal that would shut Diablo down by its original deadline, along with California utility regulators and state Legislatures, according to the document. This could pose a potential issue during the current lawsuit against PG&E.

    According to the PG&E website, “Diablo Canyon has continued to safely produce clean and reliable energy without greenhouse gases (GHG), avoiding 6 to 7 million tons per year of GHGs that would be emitted by conventional generation resources,” the site states.

    PG&E said in a statement it had not yet seen the lawsuit but that, as a regulated utility, will follow state policy.

    The Associated Press contributed to this report. 

    Tyler Durden
    Fri, 04/14/2023 – 21:40

  • Sex Toys, Cotton Candy, Red Piano: Influencers Write Off Ridiculous Items
    Sex Toys, Cotton Candy, Red Piano: Influencers Write Off Ridiculous Items

    Becoming a successful social media influencer is one of the biggest dreams among the younger generation. As millions of influencers create content across various social media platforms, an inevitable challenge arises: explaining their expenses to both tax preparers and the Internal Revenue Service.

    According to a recent Adobe Inc. report, 14 million people in the US generate income by posting content on social media. Many of these folks are purchasing some of the most outrageous items for content creation. 

    WSJ spoke with influencer Ali Spagnola, who has been compiling receipts for thousands of dollars worth of supplies, including 15,000 Lego pieces, 40 pounds of cotton candy sugar, and a red baby grand piano. 

    Source: WSJ

    Spagnola explained to her tax prepare that these purchases relate directly to creating her social media content. 

    “I need an accountant that understands outrageous,” she said, who is on her third accountant because the other two couldn’t understand her social media influencer business. 

    Another influencer is Rachael Johnson, who tours the country in an RV with her husband and two dogs. They create videos about their cross-country adventures and receive monthly payments from Facebook. She has to find a way to explain how pet costumes used in one of her videos relate to her business as an influencer. 

    Influencers earn income through non-traditional means, including selling merchandise, charging subscription fees, hosting advertisements, and until recently, receiving regular payments from social media companies for posts (some social media companies have reduced spending on influencers as ad revenue wanes). 

    Sima Gandhi, chief executive and co-founder of San Francisco-based Creative Juice, said influencers are at a significant disadvantage when filing tax returns because their profession is new and the tax code was primarily written before social media platforms existed.  

    Gandhi used to work at the US Treasury Department. He said many influencers have yet to understand they can deduct even basic expenses, including the cost of setting up a company and equipment such as computers, selfie sticks, cameras, and microphones. “These things should be reasonable and necessary in the eyes of the IRS,” she added.

    Another influencer, YouTube creator Thomas Jackson, once live-streamed himself throwing dildos at a building. He spent $864 worth on sex toys that he later deducted. 

    “Nobody asked me any questions about it,” Jackson said.

    YouTube and TikTok creator Tommy King generates income via live-streaming video games from his bedroom. He’s a full-time creator, and his tax preparer was shocked when he handed over thousands of dollars of receipts detailing ridiculous outfits he bought for his avatar in the game “Fortnite.” The accountant needed clarification about how people paid the influencer to perform live dances. 

    King completed his own taxes last year and was able to deduct $3,000 worth of computer parts and a $500 gaming chair. For 2022 taxes, he plans to write off even more computer gear. 

    And imagine what these creators are getting away with because the tax system was largely written before social media platforms. For all those creators, remember the easiest way the IRS can audit is to just watch the videos online as evidence. 

    Tyler Durden
    Fri, 04/14/2023 – 21:20

  • USD: The King Is Dead – Long Live The King
    USD: The King Is Dead – Long Live The King

    Authored by Robert Burrows via BondVigilantes.com,

    Is the dollar losing its status as the King of currencies? Dollar hegemony refers to the dominance of the United States dollar as the world’s primary reserve currency, which has been in place since the end of World War II. The dollar has been the world’s reserve currency for decades, meaning that countries around the world hold large quantities of U.S. dollars to facilitate international trade and finance.

    The global dominance of the U.S. dollar has given the United States enormous economic and political power. The U.S. has been able to print money and borrow at low-interest rates because other countries have been willing to hold U.S. dollars in their reserves. This has enabled the U.S. to finance its large trade deficits and military spending, which have been central to its global power.

    However, the dollar’s hegemony now faces increasing challenges, and its importance is waning. The rise of China and the European Union has led to the growing use of alternative currencies, which has weakened the dollar’s global dominance.

    Declining Global Trade Dominance

    The U.S. has seen its share of global trade decline over the past few decades. While the U.S. economy is still the world’s largest, other countries, particularly China, are quickly catching up. As a result, the dollar is becoming less important in international trade.

    For example, China is now the largest trading partner of many countries worldwide. Many of those countries are increasingly conducting trade in their own currencies rather than using the U.S. dollar. The European Union is also a significant trading bloc, with the euro now a major international currency.

    • China-Russia bilateral trade in 2022 increased 34% to $190b (1.3 trillion yuan), a new record high.

    • China-Brazil bilateral trade hit a record $150b in 2022, a new record high

    • China-India bilateral trade hit a record $135b in 2022, a new record high

    • The Chinese yuan (CNY) is now the fifth most traded currency after USD, EUR, JPY and GBP.

    Source: Bank of International Settlements.

    Reduced Confidence in the U.S. Economy

    Another factor contributing to the decline of the dollar’s hegemony is the reduced confidence in the U.S. economy. The 2008 financial crisis and subsequent recession significantly impacted the global economy, and many countries lost confidence in the U.S. financial system. This has led to a shift towards alternative currencies, such as the euro and the Chinese yuan, as investors seek more stable and diversified assets.

    Once again, debt ceiling concerns are coming into focus. As always, in the U.S., the opposition party will attempt to extract concessions from the other party, pushing negotiations to the limits. The two political parties are increasingly intransigent, and the possibility of a miscalculation is not unthinkable.

    U.S. Sanctions and Geopolitical Tensions

    Finally, U.S. sanctions have also contributed to the decline of the dollar’s hegemony. The U.S. has used its position as the world’s primary reserve currency to impose economic sanctions on countries that it disagrees with, such as Iran and Russia. This has led to those countries seeking alternatives to the U.S. dollar and conducting trade in other currencies.

    Economic considerations

    Dollar strength feeds inflation pressures abroad. When a country’s currency weakens against the dollar, the price of imports increase, resulting in inflationary pressures. With commodities like oil, gas, metals and food priced in dollars, any dollar strength will increase costs. This is particularly problematic for emerging markets as these costs comprise a large part of consumption.

    The Rise of Digital Currencies

    The rise of digital currencies, such as Bitcoin, also challenges the dollar’s hegemony. These currencies are in theory, decentralized and operate independently of any government or financial institution, making them an attractive alternative to traditional currencies.

    For example, Bitcoin has become a popular way to conduct international transactions, particularly in countries with high inflation rates or weak currencies. While digital currencies are still a relatively small part of the global financial system, their rise represents a significant challenge to the dominance of the U.S. dollar. Countries the world over are attempting to suppress this alternative system

    Examples of transactions outside of the dollar are on the up. Most recently, France completed its first yuan transaction for Liquefied natural gas (LNG), and Brazil has announced an agreement to trade directly with China.

    Conclusion

    In conclusion, the dominance of the U.S. dollar as the world’s primary reserve currency is waning. While the dollar is still the most widely used currency for international trade and finance, alternative currencies such as the euro and the Chinese yuan are becoming more important. In addition, the rise of digital currencies and geopolitical tensions are also contributing to the decline of the dollar’s hegemony. While the dollar is likely to remain an important global currency for the foreseeable future, its days as the KING of currencies is numbered.

    Tyler Durden
    Fri, 04/14/2023 – 21:00

  • Where It's Hardest To Afford A Home
    Where It’s Hardest To Afford A Home

    Big cities like Hong Kong or Los Angeles are well-known for their expensive real estate markets.

    But, as Statista’s Katharina Buchholz notes, there are also a lot of housing markets you wouldn’t necessarily expect among the least affordable – that includes several in Australia, New Zealand and Canada.

    According to the 2023 International Housing Affordability Survey by Demographia, three out of the 10 least affordable housing markets are in Australia and New Zealand, two are in Canada and four more are located in the United States.

    Infographic: Where It’s Hardest to Afford a Home | Statista

    You will find more infographics at Statista

    The least affordable housing market is Hong Kong.

    Here, the median house or apartment price is almost 19 times as high as the median annual gross household income.

    After Hong Kong, New Zealand and Australia were the least affordable countries overall in the study which looked at the U.S., Canada, the UK, Hong Kong, Singapore, Australia, New Zealand and Ireland.

    Tyler Durden
    Fri, 04/14/2023 – 20:40

  • Peak EV: Electric Vehicles Will Fade As Their True Costs Become Clear
    Peak EV: Electric Vehicles Will Fade As Their True Costs Become Clear

    Authored by Doug French via The Mises Institute,

    “On Wednesday, the Environmental Protection Agency plans to announce tough new tailpipe emission standards designed to effectively force the auto industry to phase out the sale of gas-powered cars,” reports The Verge, with the provocative headline “The End Is Nigh for Gas-Powered Cars.”

    Environmental, social, and corporate governance (ESG) is the newest religion, and we all know who the practitioners are. Electric vehicle (EV) owners sing “Hallelujah” when they pull out of their garages. The investor-class ESG evangelists believe the new belief is in its beginnings. Whatever the Biden EPA does, investor Harris Kupperman thinks it’s likely just the Church of What’s Happening Now.

    Kupperman, referred to as Kuppy by Real Vision’s Maggie Lake, told her, “Well, I think we’re nearing peak ESG, which is probably a good thing, honestly.” He explained,

    And it’s like religions kind of come, they peak, they die out. No one practices Roman religions anymore. I can name three of the gods and I’m a Roman history major.

    These things, they peak, they crest, and this little religion of ESG, it’s been around for a while. It peaked. And now there’ll be some die hard adherence, but I think the vast majority of investors want to make money. And it’s great if they’re doing something that has a social good, but most of them just want to save for their retirement.

    As to all those fancy Teslas silently cutting you off in traffic, their drivers teeming with superiority, thinking they are saving the planet, Kuppy sees them going the way of T. rex.

    “No. I think EV is going to be something you’re going to go to a museum with my kids and be like, wow, that was an evolutionary dead end and we always [waste] trillions of dollars on this. No, I think that there’s no future to EV.”

    “Really, why?” an aghast Lake wondered.

    Next, Kuppy comes with the hard facts amateur environmentalists and government enforcers don’t consider.

    Because it [the EV] destroys energy. You have this concept called EROI, which is the return on energy you put in. An EV, you put more energy in than you get out. And so as a result, it’s just like a thermodynamic rule—it won’t work unless you subsidize it.

    What’s the reason for EVs? It’s because it supposedly produces less carbon. But through the full life cycle of owning an EV, because so much carbon has to go into the stupid thing, it doesn’t use less carbon. You’re better off having a gas guzzler.

    Yikes. Maybe EV owners are not as heroic as they believe.

    Kupperman says that without government subsidies, consumers will stick to internal combustion engine (ICE) vehicles. In fact, even with subsidies, most people, like Kupperman, will buy ICE vehicles. But there will always be snobs.

    [If] you kind of want to be a snob and say you’ve got an EV, then be a snob. It’s a nice thing to have if you want to show off that you have a thing. For me, I have a truck. Doesn’t bother me at all and I’m proud of my truck.

    However, “if carbon is the thing you’re caring about, you’re caring about the total cost of using the car or the energy in versus energy out. Almost any component you look at, you’re better off just having an internal combustion engine. And those engines have actually gotten very efficient over the last couple of years.”

    Kupperman points out that as these EVs age, owners will see

    what happens to battery degradation with lithium ion batteries, and the fact that the lithium ion battery is such a large component of the total cost of a car, and when you’re at year five or six [and] have to replace 30% to 40% of your car’s initial cost, people are going to realize the lifetime cost of owning an EV is astronomically high.

    Thus, in Kuppy’s view adoption will decline and EV owners will have second thoughts and realize their EVs are terrible vehicles.

    As far as ESG goes, it is just a tax on humanity, according to Kupperman. “And that’s a real detriment to 6 billion people that want a better standard of living if they can’t afford the things to pull them up out of poverty, effectively.”

    Kupperman believes continued demand for energy is unstoppable and the government will only make matters worse.

    They’ll try all sorts of stupid things. Governments historically do really dumb things that make problems worse. That’s the history of governments. I assume they’ll try all sorts of things that’ll fail. And all that it will do will be to destroy the supply response because of the government’s interfering in your ability to do your business.

    When Lake asked about potential government interference, Kupperman replied,

    Yeah, they’re probably going to try excess profits taxes. They’re probably going to try export bans, and price caps, and all sorts of other things. And the net result is that guys will take their dividends and go to the beach. They’re not going to drill for oil. No, I think it’s almost inevitable that the government will take a problem and turn it into a crisis.

    Yes, an energy crisis is on the way, courtesy of Uncle Sam.

    Tyler Durden
    Fri, 04/14/2023 – 20:20

  • Watch: FL Rep Calls Trans Hearing Witnesses 'Demons' and 'Imps'
    Watch: FL Rep Calls Trans Hearing Witnesses ‘Demons’ and ‘Imps’

    A Florida legislature hearing on a proposed “bathroom bill” brought something of a fire-and-brimstone sermon this week, when Republican Rep. Webster Barney called transgender people “demons” and “imps” — and he made it clear the label applied to the ones sitting at the witness table. 

    Barnaby, who represents DeLand, began by saying that when he looks at society today, he feels as if he’s watching an X-Men or Marvel movie, such that:   

    “We have people that live among us today on planet Earth that are happy to display themselves as if they were mutants from another planet. This is the planet Earth, where God created men male and women female.

    I’m a proud Christian, conservative, Republican. I’m not on the fence. There is so much darkness in our world today. So much evil in our world today. And so many people who are afraid to address the evil, the dysphoria, the dysfunction. 

    I’m not afraid to address the dysphoria or the dysfunction. The Lord rebuke you, Satan, and all of your demons and all of your imps who come and parade before us.”

    Apparently responding to shocked reactions from the LGBT and trans activist witnesses in front of him, he continued:

    “That’s right – I called you demons and imps who come and parade before us and pretend that you are part of this world. So I’m saying, my righteous indignation is stirred. I am sick and tired of this. I’m not going to put up with it.”

    https://platform.twitter.com/widgets.js

    While “imp” is commonly used to refer to a mischievous child, its first definition in the Merriam-Webster dictionary is a “small demon.” 

    Committee members of both parties appeared to be unsettled by Barnaby’s remarks. Addressing the witnesses, GOP Rep. Chase Tramont said, “You’re not an evil being. I believe that you’re fearfully and wonderfully made, and I want you to live your life well.”

    Monday’s Florida House Commerce Committee hearing was called for consideration of the “Safety in Private Spaces Act.” It would make it a misdemeanor crime for people 18 and over to use a restroom or changing facility that’s inconsistent with one’s sex assigned at birth — if the fail to “immediately depart” upon request. 

    The bill lists a variety of specific types of venues where it applies, including schools, hurricane shelters, substance abuse centers, health care facilities and public accommodations — which covers  restaurants, gasoline stations, lodgings and entertainment spots.  

    After the committee sent the bill on for a vote on the Florida House floor, Barnaby gave a brief apology: “I referred to trans people as demons. I would like to apologize to the trans community for referring to you as demons.” 

    Born in Birmingham, England, Webster Barnaby later lived in the US Virgin Islands and became a US citizen in 1998 (Florida House photo)

    Tyler Durden
    Fri, 04/14/2023 – 20:00

  • Pentagon Says 11 More US Troops In Syria Diagnosed With Traumatic Brain Injuries
    Pentagon Says 11 More US Troops In Syria Diagnosed With Traumatic Brain Injuries

    Via The Cradle,

    The spokesperson for the US Central Command (CENTCOM) Colonel Joe Buccino disclosed on Thursday that 11 more US troops based in Syria have been diagnosed with traumatic brain injury after a series of retaliatory strikes against illegal US bases in March.

    According to CNN, Buccino affirmed that the US military’s medical teams are continuing to evaluate and assess their troops for indications of permanent and traumatic brain injuries.

    Illustrative: US Air Force file

    The US personnel wounded in these attacks in Syria amount to 25 troops, including a US military contractor, who was killed at a facility in Syria’s northeastern Hasakah province on March 23. Washington claims the perpetrators of the attack were affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC).

    On the same day of the attack on the US base, US troops carried out “precision airstrikes” in eastern Syria. The presence of the US occupation forces in Syria is deemed illegal under international law.

    According to a March 30 CNN report, six US soldiers had also been diagnosed with traumatic brain injuries as a result of attacks from Iran-backed groups in Syria.

    Similar brain injuries were sustained by over 100 US soldiers in 2020 after Iranian forces targeted the Ain al-Asad military base in Iraq, where US forces were stationed.

    Iran attacked the US base in retaliation for the US assassination of IRGC General Qassem Soleimani and Iraqi resistance leader Abu Mahdi al-Muhandis in a drone strike at the Baghdad airport on January 3 that year.

    When Washington’s effort to topple the Syrian government through militias failed, US planners partnered with the Kurdish-led Syrian Democratic Forces (SDF) to fight ISIS and thereby occupy Syria’s strategic oil and grain-producing northwest, which had been under ISIS control.

    This has allowed US officials to limit Syrian efforts at rebuilding the country and has exacerbated US-imposed economic sanctions, which have further harmed Syria’s economy and increased suffering among Syria’s civilian population.

    Tyler Durden
    Fri, 04/14/2023 – 19:40

  • Minneapolis Pork Plant In Trouble As Inflation Crimps Demand
    Minneapolis Pork Plant In Trouble As Inflation Crimps Demand

    US food processing plants are under severe pressure as soaring inflation has crimped consumer demand for meat while the cost of doing business soars. 

    According to Bloomberg, HyLife Foods is searching for a buyer for its pork plant in southwest Minneapolis. It purchased the plant three years ago, which processes upwards of 1.2 million hogs annually. 

    Hog prices have tumbled since the start of the year amid new concerns pork supplies are outpacing demand. 

    Consumers are being walloped by 24 months of negative real wage growth, which has led to increasing budget tightening. 

    The combination of sliding prices and demand is exerting pressure on the profitability of meat processing plants.

    Hylife Chief Executive Officer Grant Lazaruk told CBS News in a statement:

    “Unfortunately, despite these efforts, we have had to combat a number of challenges, including inflationary pressures, high grain costs, foreign exchange rates and the plant’s operational losses.

    “For some time now, the Company has been exploring several strategic options that would have enabled it to continue go-forward operations despite these financial challenges. Unfortunately, so far, these efforts have not been successful.”

    Only a few months ago, the largest US meat company, Tyson Foods, cut its expectations for operating margins, blaming it on falling meat prices due to easing demand.

    As a result, financially weak meat processing plants could face a domino of closures. If so, this could prove disastrous as closures result in supply cuts and even higher consumer prices. 

    Tyler Durden
    Fri, 04/14/2023 – 19:20

  • Analyzing Ethereum's Big Week
    Analyzing Ethereum’s Big Week

    Authored by Ben Giove and Jack Inabinet via Bankless.com,

    How did crypto markets react to Shapella?

    We now live in a post-Shapella world!

    One of the largest upgrades in Etheruem’s history officially arrived this week, with Shapella completing Ethereum’s transition to Proof-Of-Stake (PoS) by enabling withdrawals from staking. Leading up to the event, there was rampant speculation on how the upgrade would impact the markets, the staking landscape and DeFi.

    In one corner you had the bulls, who felt that the upgrade represented a significant de-risking event for ETH, believing that the removal of the technical risk around withdrawals would lead to an influx of users who would buy-and-stake.

    In the other camp, you had the bears, who thought that Shapella represented a major supply overhang for ETH, believing that mass withdrawals would lead to persistent sell pressure on the asset.

    Who was right? Let’s dive in.

    Market Reaction

    It’s been under 48 hours since Shapella hit mainnet, but so far it certainly seems to be a “bullish unlock.”

    ETH has roared since the upgrade went live, surging 13.1% from $1871 to $2117 at the time of writing.

    [ZH: ETH’s underperformance is most clear when judged against BTC into and out of the fork…]

    This move has left a trail of bear carcasses in its wake, leading to more than $84.7M worth of short liquidations between April 12-13. This is the most we’ve seen in a two-day period since March 12-13, when ETH rallied in the wake of the USDC de-peg and banking crisis.

    Source: CoinGlass

    Ethereum ecosystem tokens have experienced monster rallies since Shapella, with – unsurprisingly — staking-related tokens leading the charge.

    This includes liquid-staking derivative (LSD) governance tokens, with Lido (LDO), Rocket Pool (RPL), Frax (FXS) and StakeWise (SWISE) surging 14.3%, 17.1%, 12.9% and 19.2% respectively at the time of writing. LSD-Fi protocols have also soared, with Pendle (PENDLE) rallying 19.9%, Flashstake (FLASH) ripping 47.1% and unshETH (USH) mooning 56.1%. Layer 2 tokens have also surged on the back of the move in ETH, with Arbitrum (ARB), and Optimism (OP) rallying 30.8% and 18.0%.

    Source: TradingView

    These monster moves suggest that fears of a post-Shapella dump were overblown. Instead, early signs point towards those in the bullish de-risking camp being in the right, as the upgrade has been treated as a buy-the-news event.

    Withdrawal Activity

    Outflows have overpowered deposits and the Beacon Chain has seen 106k in net Ether outflows since Shapella went live. While the impacts of Shapella are just beginning to be felt, it appears prophecies of catastrophe were overblown.

    Source: Nansen

    Ethereum’s exit queue is live and full of stakers looking to withdraw. At the time of analysis, there was 827k ETH across 23k validators in the queue, representing 4.1% of the validator set.

    Kraken represents the vast majority of exits (65.9%) as its settlement with the SEC required the shuttering of US staking operations. A majority of these clients (likely proportional to other providers), however, will probably re-stake as the settlement did not alter the underlying benefits of ETH staking.

    Source: Nansen

    At the current validator count and given exit queue constraints, a maximum of 1.8k validators can exit per day. All present exit requests can be processed within 14 days from the publication of this article, a far cry from ETH doomers’ calls for months of withdrawals.

    Bankrupt crypto lender Celsius has 158k staked ETH not included in the exit queue at the time of analysis. The need to liquidate this position to repay creditors means withdrawals are inevitable.

    All things the same, less Kraken’s withdrawals and inclusive of Celsius’s withdrawals, 2.3% of ETH staked can be expected as net outflows from full withdrawals. Partial withdrawals are the largest source of potential outflows, with 877k in accrued consensus rewards waiting to be automatically withdrawn at the time of analysis.  Nearly 70% of these rewards, however, belong to validators with type 0x00 credentials and cannot be withdrawn until upgraded to type 0x01 credentials. Stakers have been long aware they need to upgrade credentials prior to withdrawing, so it is unlikely we see a significant number of validators upgrade their credentials in the immediate term, limiting staking outflows from partial withdrawals.

    DeFi Activity

    Solo validators and Staking-as-a-Service products gained liquidity on stake, however, for many LSD protocols, absolutely nothing has changed post-Shapella.

    Liquid-staking heavyweight Lido, for example, will not have withdrawals enabled until May at the earliest, pending deployment to testnet and the completion of several outstanding security audits. An inability to withdraw means outflows from liquid-staking are a non-factor at present. However we currently anticipate larger players like Lido to lose market share to smaller protocols as altruistic stakers move to decentralize network security and new LSD-Fi projects spin up token incentives for their product offerings in the coming months.

    Coinbase’s staking program, which allows users to mint their cbETH staking derivative, is the exception, with redemptions of over 35.5k cbETH for users following Shapella. Coinbase makes up 10.3% of the exit queue, representing a further 86k in full Ether withdrawals. Included in this calculation, however, is withdrawals for products beyond LSDs, like institutional staking.

    Source: Dune Analytics

    DeFi borrower demand for liquid-staking derivatives has been virtually non-existent.

    Aave’s stETH market has continued its downward rate spiral, with utilization hovering slightly under 13%. Lenders are currently earning under 10 bps and borrowers are paying 28 bps on the protocol’s Ethereum V3 market. Lending activity on Compound is similarly depressed, with utilization of the ETH market at 54.6%, well below the targeted 90% utilization kink point, above which borrowing rapidly becomes prohibitively expensive.

    Total collateral lent to and borrowed from Compound’s ETH market has also fallen precipitously since the start of April, down 33.4% and 34.9%, respectively. Lending and borrowing rates on the platform have plummeted as well, down from 2.21% to 1.46% and 5.01% to 3.65%, respectively, over the same period.

    LSD stableswap pools have remained relatively… stable, however, we are seeing some early indications of stETH sell pressure, in line with our beliefs that stake will be redistributed from Lido.

    Balancer’s wstETH/sfrxETH/rETH (41.0% wstETH) and wstETH/cbETH (56.6% wstETH) pools, in addition to Curve’s wETH/stETH concentrated pool (64.5% stETH), are all indicating outsized sell pressure on Lido’s staking derivative. Further evidence for this thesis can be found in stETH’s deviation from peg. Currently, stETH is trading at 0.36% discount, compared to a 0.10% premium for rETH, testing the lower bound established after March’s banking crisis.

    Source: Dune Analytics

    Should Lido’s competitors be successful at draining its TVL, this results in a near-term steepening of stETH’s discount. Absent withdrawals, the underlying ETH remains illiquid, leaving sale as the sole substitute for redemption.

    A Busy 48 Hours

    As we can see, both the market and on-chain participants have been keeping busy post-Shapella.

    Prices have surged with ETH rallying above $2100, carrying liquid-staking, LSD-Fi, and L2 tokens along with it. Although early, this rally seems to suggest that the event was a de-risking one, rather than the source of torrential sell pressure that some had feared.

    We can also see that there have been net-outflows since the upgrade went live, led in large part by CEXs like Kraken and Coinbase.

    Shapella has also begun to impact the LSD market, with cbETH being hit with more than 35K in redemptions while Lido’s stETH is trading below peg. This suggests that we may be in the early stages of seeing the anticipated migration of deposits away from large stakers like Coinbase and Lido.

    Yes, it hasn’t been very long since Shapella went live – but its effects on the on-chain economy are already beginning to be felt.

    Tyler Durden
    Fri, 04/14/2023 – 19:00

  • China Rejects US Intel Leak Pointing To Covert Arms Transfers To Russia
    China Rejects US Intel Leak Pointing To Covert Arms Transfers To Russia

    China is again vowing that it won’t sell weapons to Russia, or either side of the war for that matter, after new accusations fueled by speculation over a leaked US intelligence document.

    Earlier this week The Washington Post published analysis of a top secret intelligence summary dated to February 23 of this year, which purported to show that China approved the provision of lethal aid to Moscow amid its military operations in Ukraine. 

    China’s Foreign Minister Qin Gang

    If true it would confirm what have been months of White House accusations which Beijing has consistently and vehemently denied, also at a time that President Xi Jinping advanced his 12-point peace plan to promote ceasefire negotiations. But US official allegations have so far been limited to asserting that Beijing is merely mulling and discussing the possible provision of lethal aid, not that it’s already done so.

    According to a description of the leaked intelligence document in The Washington Post:

    The intercept, apparently obtained through U.S. eavesdropping on Russia’s Foreign Intelligence Service (SVR), was included in a top-secret summary, dated Feb. 23, of recent Ukraine- and Russia-related “products” compiled by the Office of the Director of National Intelligence. It was among a number of previously unreported documents that The Washington Post obtained from a trove of images of classified files posted on a private server on the chat app Discord.

    According to “signals intelligence,” the intelligence summary said, the SVR reported that China’s Central Military Commission had “approved the incremental provision” of weapons and wanted it kept secret. The report did not indicate the source of the SVR’s information.

    On Friday China’s Foreign Minister Qin Gang issued new statements on the controversy, explicitly denying arms sales to Russia.

    “Regarding the export of military items, China adopts a prudent and responsible attitude,” Qin said. He issued the words on the occasion of a visit by his German counterpart Annalena Baerbock.

    China will not provide weapons to relevant parties of the conflict, and manage and control the exports of dual-use items in accordance with laws and regulations,” he stressed. At the same time, German Foreign Minister Annalena Baerbock said that a change in Taiwan’s status would potentially bring about the “horror scenario” of conflict for the whole world.

    https://platform.twitter.com/widgets.js

    Despite the intelligence leak, the Biden administration maintains that it doesn’t believe China has pulled the trigger yet: “We have not seen evidence that China has transferred weapons or provided lethal assistance to Russia. But we remain concerned and are continuing to monitor closely,” a senior administration official was quoted in The Washington Post as saying. “A senior defense official agreed with that assessment. Both officials spoke on the condition of anonymity to discuss information about the top-secret document.”

    Tyler Durden
    Fri, 04/14/2023 – 18:40

  • What The Bud Light Fiasco Reveals About The Ruling Class
    What The Bud Light Fiasco Reveals About The Ruling Class

    Authored by Jeffrey Tucker via The Brownstone Institute,

    What were they thinking? How did someone believe that making “trans woman” Dylan Mulvaney the icon of a Bud Light ad campaign, complete with a beer can with Mulvaney’s image on it, would be good for sales? With an ad featuring this person vamping around in the most preposterously possible way? 

    Dylan, who had previously been interviewed on trans issues by President Biden himself, was celebrating “365 Days of Girlhood” with a grotesquely misogynistic caricature that would disgust just about the whole market for this beer. Indeed, this person’s cosplay might as well be designed to discredit the entire political agenda of gender dysphoriacs. 

    Sure enough, because we don’t have mandates on what beers you must buy, sales of the beer plummeted. 

    The parent company Anheuser-Busch’s stock lost $5 billion or 4 percent in value since the ad campaign rollout. Sales have fallen 50-70 percent. Now there is worry within the company of a widening boycott to all their brands. A local Missouri distributor of the product canceled an appearance by Budweiser Clydesdale horses due to public anger.

    Ads are supposed to sell products, not prompt a massive public backlash that results in billions in losses. This mistake could be for the ages, marking a distinct departure from corporate deference to wackadoodle ideas from the academy and a push for more connection to on-the-ground realities. 

    The person who made the miscalculation is Alissa Gordon Heinerscheid, Vice President in charge of marketing for Bud Light. She explained that her intention was to make the beer King of ‘Woke’ Beers. She wanted to shift away from the “out of touch” frat party image to one of “inclusivity.” By all accounts, she actually believed this. More likely, she was rationalizing actions that would earn her bragging rights within her social circle. 

    Digging through her personal biography, we find all the predictable signs of tremendous detachment from regular life: elite boarding school (Groton, $65K a year), Harvard, Wharton School, coveted internship at General Foods, and straight to top VP at the biggest beverage company in the world. 

    Somehow through all that, nothing entered her brain apart from elite opinion on how the world should work with theories never actually tested by real-world marketing demands. Would that she had worked at Chick-Fil-A at some point in her teen years, perhaps even preserving some friend relationships ever since. It might have protected her from this disastrous error. 

    She is a perfect symbol of a problem that afflicts high-end corporate and government culture: a shocking blindness toward the mainstream of American life, including working classes and other people less privileged.

    They are invisible to this crowd. And her type is pervasive in corporate America with its huge layers of management developed over 20 years of loose credit and push for token representation at the highest levels. 

    We’ve seen this manifest over three years and ruling-class types imposed lockdowns, masks, and vaccine mandates on the whole population without regard to the consequences and with full expectation that the food will continue to be delivered to their doorsteps no matter how many days, months, or years they stay at home and stay safe. 

    The working classes, meanwhile, were shoved out in front of the pathogen to make their assigned contribution to herd immunity so that the rich and privileged could preserve their clean state of being, making TikTok videos and issuing edicts from their safe spaces for two or even three years. 

    In the late 19th century, the blindness of class detachment was a problem that so consumed Karl Marx that he became possessed with the desire to overthrow class distinctions between labor and capital. He kicked off a new age of the classless society under the leadership of the vanguard of the proletarian classes. In every country where his dreams became a reality, however, a protected elite took over and secured themselves from the consequences of their deluded dreams. 

    The people who in recent decades have drunk so deeply from the well of the Marxian tradition seem to be repeating that experience with complete disinterest in the lower classes, while pushing a deepening chasm that only became worse in the lockdown years in which they have controlled the levers of power. 

    It was startling to watch, and I could hardly believe what was happening. Then one day the incredibly obvious dawned on me. All official opinion in this country and even the whole world – government, media, corporations, technology – emanated from the same upper echelons of the class structure. It was people with elite educations and who had the time to shape public opinion. They are the ones on Twitter, in the newsrooms, fussing with the codes, and enjoying the laptop life of a permanent bureaucrat. 

    Their social circles were the same. They knew no one who cut trees, butchered cows, drove trucks, fixed cars, and met payroll in a small restaurant. The “workers and peasants” are people the elites so otherized that they became nothing more than non-playing characters who make stuff work but are not worthy of their attention or time. 

    The result was a massive transfer of wealth upwards in the social ladder as digital brands, technology, and Peloton thrived, while everyone else faced a barrage of ill health, debt, and inflation. As classes have grown more stratified – and, yes, there is a reason to worry about the gap between the rich and the poor when malleability is restricted – the intellectual producers of policy and opinion have constructed their own bubble to protect themselves from by being soiled by contrary points of view. 

    They want the whole world to be their own safe space regardless of the victims. 

    Would lockdowns have happened in any other kind of world? Not likely. And it would not have happened if the overlords did not have the technology to carry on their lives as normal while pretending that no one was really suffering from their scheme. 

    The Bud Light case is especially startling because the advent of commercial society in the high Middle Ages and through the Industrial Revolution was supposed to mitigate against this sort of myopic stratification. And this has always been the most compelling critique of Marx: he was raging against a system that was gradually winnowing away the very demarcations in classes that he decried. 

    Joseph Schumpeter in 1919 wrote an essay on this topic in his book Imperialism and Social Classes. He highlighted how the commercial ethos dramatically changed the class system. 

    “The warlord was automatically the leader of his people in virtually every respect,” he wrote.

    “The modern industrialist is anything but such a leader. And this explains a great deal about the stability of the former’s position and the instability of the latter’s.”

    But what happens when the corporate elites, working together with government, themselves become the warlords? The foundations of market capitalism begin to erode. The workers become ever more alienated from final consumption of the product they have made possible. 

    It’s been typical of people like me – pro-market libertarians – to ignore the issue of class and its impact on social and political structures. We inherited the view of Frederic Bastiat that the good society is about cooperation between everyone and not class conflict, much less class war. We’ve been suspicious of people who rage against wealth inequality and social stratification. 

    And yet we do not live in such market conditions. The social and economic systems of the West are increasingly bureaucratized, hobbled by credentialism, and regulated, and this has severely impacted class mobility. Indeed, for many of these structures, exclusion of the unwashed is the whole point. 

    And the ruling class themselves have ever more the mindset as described by Thorstein Veblen: only the ignorable do actual work while the truly successful indulge in leisure and conspicuous consumption as much as their means allow. One supposes that this doesn’t hurt anyone…until it does.

    And this certainly happened in very recent history as the conspicuous consumers harnessed the power of states all over the world to serve their interests exclusively. The result was calamity for rights and liberties won over a thousand years of struggle. 

    The emergent fissures between the classes – and the diffusions of our ruling class into many sectors public and private – suggest an urgency for a new consciousness of the real meaning of the common good, which is inseparable from liberty. The marketing director of Bud Light talked a good line about “inclusivity” but she plotted to impose everything but that. Her plan was designed for the one percent and to the exclusion of all the people who actually consume the product, to say nothing for the workers who actually make and deliver the product she was charged with promoting.

    That the markets have so brutally punished the brand and company for this profound error points the way to the future. People should have the right to their own choices about the kind of life they want to live and the products and services they want to consume. The dystopia of lockdowns and woke hegemony of public opinion – complete with censorship – have become the policy to overturn if the workers are ever to throw off the chains that bind them. 

    The boycotts of Bud Light are but a beginning. 

    Tyler Durden
    Fri, 04/14/2023 – 18:20

  • China Conducts Antiballistic Missile Test While Condemning US Military Drills On Korean Peninsula
    China Conducts Antiballistic Missile Test While Condemning US Military Drills On Korean Peninsula

    China has conducted a rare anti-ballistic missile test on Friday, Bloomberg is reporting based on China’s defense ministry, which has been hailed as successful. 

    It’s being described as a land-based, mid-course antiballistic missile technical test, which was of a “defensive nature” and didn’t target any country, according to the military statement.

    “It’s the fourth such test China has successfully conducted since 2018, according to a search on the ministry’s website,” Bloomberg writes, noting further that the last such ballistic missile test was in June 2022.

    China is meanwhile blaming rising tensions on the Korean peninsula on the “negative impact” of US military drills with the south. 

    Chinese Ministry of Foreign Affairs spokesman Wang Wenbin said in a Thursday press conference, “The current round of tension on the peninsula has its causes. The negative impact of the US military drills and deployment of strategic weapons around the peninsula is obvious to all,” according to Agence France Presse.

    https://platform.twitter.com/widgets.js

    Also on Thursday Japan had briefly issued, and then retracted, an emergency evacuation order for residents of the northernmost of Japan’s main island.

    “Evacuate immediately. Immediately evacuate inside the building or underground,” the Thursday morning notification said. “The missile is expected to fall around Hokkaido around 08:00. Please evacuate immediately.”

    https://platform.twitter.com/widgets.js

    North Korea has been engaged in near-daily tests after the US last month kicked off weeks of major joint drills with South Korea. Pyongyang pledged a fierce and appropriate response.

    Tyler Durden
    Fri, 04/14/2023 – 18:00

  • Watch: Carlson Exposes How Establishment Media Is Desperate To Help Cover Up Info From Intel Leaks
    Watch: Carlson Exposes How Establishment Media Is Desperate To Help Cover Up Info From Intel Leaks

    Authored by Steve Watson via Summit News,

    Fox News host Tucker Carlson noted Thursday that instead of asking questions about the substance of the information contained in the leaked intelligence material from the Pentagon, the corporate media simply wanted to know how they can help cover it up.

    Screenshot

    The documents, allegedly leaked by a 21-year-old National Guardsman, reveal information showing that the U.S. is deeply involved in the Ukrain/Russia war.

    “If you want to get really sick to your stomach, go pull a transcript from the Pentagon briefing today where news reporters asked flacks from the Pentagon, what are we gonna do to keep information like this secret in the future?” Carlson urged.

    The host added that the press failed to ask “one question about the substance of the information,” adding “We are fighting a war against Russia directly, really? Don’t they have the biggest arsenal in the world? Not one question,” instead the reporters asked “How can we help you keep it secret?”

    Those are the questions and not only are the media covering up the substance of the story, which is not who leaked it, but what he leaked, they are covering up the crimes committed to get you this information,” Carlson continued.

    “The administration apparently used illegal surveillance techniques to identify this kid apparently with the help of The Washington Post and The New York Times,” Carlson emphasised, further charging that the media is working in lockstep with the intelligence community.

    “If it’s illegal to see these documents if you don’t have a security clearance, how is the Washington Post doing this legally?” Carlson asked, further noting “They don’t have a security clearance. Well, obviously, they were given them by the U.S. Intel agencies and are working alongside them.”

    Carlson asserted “this is information that is relevant to the public in a so-called democracy. You cannot lie about things that jeopardize our collective future and get away with it and you certainly shouldn’t be doing that with the assistance of the news media.”

    “The news media whose job it is to inform you of what your government is doing, but instead they are working actively late into the night to lie to you on behalf of their masters in permanent Washington. By the way, just last week, the plan was to lie in an even more grotesque way and blame Russia for this,” the host also noted.

    Watch:

    Journalist Glenn Greenwald, who was the go between in the Edward Snowden revelations a decade ago, also noted that the media helped hunt down the whistleblower:

     

    Tyler Durden
    Fri, 04/14/2023 – 17:40

Digest powered by RSS Digest

Today’s News 14th April 2023

  • Escobar: Waiting For The End Of The World
    Escobar: Waiting For The End Of The World

    Authored by Pepe Escobar,

    NOTE: This is the English original of a column specially commissioned by leading Russian business daily Vedemosti.

    We were waiting for the end of the world
    Waiting for the end of the world, waiting for the end of the world
    Dear Lord, I sincerely hope You’re coming
    ‘Cause You really started something

    Elvis Costello, Waiting for the End of the World, 1977

    We cannot even begin to fathom the non-stop ripple effects deriving from the 2023 geopolitical earthquake that shook the world: Putin and Xi, in Moscow, de facto signaling the beginning of the end of Pax Americana.

    This has been the ultimate anathema for rarified Anglo-American hegemonic elites for over a century: a signed, sealed, comprehensive strategic partnership of two peer competitors, intertwining a massive manufacturing base and pre-eminence in supply of natural resources – with value-added Russian state of the art weaponry and diplomatic nous.

    From the point of view of these elites, whose Plan A was always a debased version of the Roman Empire’s Divide and Rule, this was never supposed to happen. In fact, blinded by hubris, they never saw it coming. Historically, this does not even qualify as a remix of the Tournament of Shadows; it’s more like Tawdry Empire Left in the Shade, “foaming at the mouth” (copyright Maria Zakharova).

    Xi and Putin, with one Sun Tzu move, immobilized Orientalism, Eurocentrism, Exceptionalism and, last but not least, Neo-Colonialism. No wonder the Global South was riveted by what developed in Moscow.

    Adding insult to injury, we have China, the world’s largest economy by far when measured by purchasing power parity (PPP), as well as the largest exporter. And we have Russia, an economy that by PPP is equivalent or even larger than Germany’s – with the added advantages of being the world’s largest energy exporter and not forced to de-industrialize.

    Together, in synch, they are focused on creating the necessary conditions to bypass the US dollar.

    Cue to one of President Putin’s crucial one-liners: “We are in favor of using the Chinese yuan for settlements between Russia and the countries of Asia, Africa and Latin America.”

    A key consequence of this geopolitical and geoeconomic alliance, carefully designed throughout the past few years, is already in play: the emergence of a possible triad in terms of global trade relations and, in many aspects, a Global Trade War.

    Eurasia is being led – and largely organized – by the Russia-China partnership. China will also play a key role across the Global South, but India may also become quite influential, agglutinating what would be a Non-Aligned Movement (NAM) on steroids. And then there is the former “indispensable nation” ruling over the EU vassals and the Anglosphere rounded up in the Five Eyes.

    What the Chinese really want

    The Hegemon, under its self-concocted “rules-based international order”, essentially never did diplomacy. Divide and Rule, by definition, precludes diplomacy. Now their version of “diplomacy” has degenerated even further into crude insults by an array of US, EU and UK’s intellectually challenged and frankly moronic functionaries.

    It’s no wonder that a true gentleman, Foreign Minister Sergey Lavrov, has been forced to admit, “Russia is no longer a partner of the EU… The European Union ‘lost’ Russia. But the Union itself is to blame. After all, EU member states… openly declare that Russia should be dealt a strategic defeat. That is why we consider the EU to be an enemy organization.”

    And yet the new Russian foreign policy concept, announced by Putin on March 31st, makes it quite clear: Russia does not consider itself an “enemy of the West” and does not seek isolation.

    The problem is there’s virtually no adult to talk to on the other side, rather a bunch of hyenas. That has led Lavrov to once again stress that “symmetrical and asymmetrical” measures may be used against those involved in “hostile” actions against Moscow.

    When it comes to Exceptionalistan, that’s self-evident: the US is designated by Moscow as the prime anti-Russia instigator, and the collective West’s overall policy is described as “a new type of Hybrid War.”

    Yet what really matters for Moscow are the positives further on down the road: non-stop Eurasia integration; closer ties with “friendly global centers” China and India; increased help to Africa; more strategic cooperation with Latin America and the Caribbean, the lands of Islam – Turkey, Iran, Saudi Arabia, Syria, Egypt – and ASEAN.

    And that brings us to something essential that was – predictably – ignored en masse by Western media: the Boao Forum for Asia, which took place nearly simultaneously with the announcement of Russia’s new foreign policy concept.

    The Boao Forum, started in early 2001, still in the pre-9/11 era, has been modeled on Davos, but it’s Top China through and through, with the secretariat based in Beijing. Boao is in Hainan province, one of the islands of the Gulf of Tonkin and today a tourist paradise.

    One of the key sessions of this year’s forum was on development and security, chaired by former UN Secretary-General Ban Ki-moon, who is currently Boao’s president.

    There were quite a few references to Xi’s Global Development Initiative as well as the Global Security Initiative – which by the way was launched at Boao in 2022.

    The problem is these two initiatives are directly linked to the UN’s concept of peace and security and the extremely dodgy Agenda 2030 on “sustainable development” – which is not exactly about development and much less “sustainable”: it’s a Davos uber-corporate concoction. The UN for its part is basically a hostage of Washington’s whims. Beijing, for the moment, plays along.

    Premier Li Qiang was more specific. Stressing the trademark concept of “community of shared future for mankind” as the basis for peace and development, he linked peaceful coexistence with the “Spirit of Bandung” – in direct continuity with the emergence of NAM in 1955: that should be the “Asian Way” of mutual respect and building consensus – in opposition to “the indiscriminate use of unilateral sanctions and long-reaching jurisdiction”, and the refusal of “a new Cold War”.

    And that led Li Qiang to the emphasis on the Chinese drive to deepen the RCEP East Asian trade deal, and also advance the negotiations on the free trade agreement between China and ASEAN. And all that integrated with the new expansion of the Belt and Road Initiative (BRI), in contrast to trade protectionism.

    So for the Chinese what matters, intertwined with business, is cultural interactions; inclusivity; mutual trust; and a stern refusal of “clash of civilizations” and ideological confrontation.

    As much as Moscow easily subscribes to all of the above – and in fact practices it via diplomatic finesse – Washington is terrified by how compelling is this Chinese narrative for the whole Global South. After all, Exceptionalistan’s only offer in the market of ideas is unilateral domination; Divide an Rule; and “you’re with us or against us”. And in the latter case you will be sanctioned, harassed, bombed and/or regime-changed.

    Is it 1848 all over again?

    Meanwhile, in vassal territories, a possibility arises of a revival of 1848, when a big revolutionary wave hit all over Europe.

    In 1848 these were liberal revolutions; today we have essentially popular anti-liberal (and anti-war) revolutions – from farmers in the Netherlands and Belgium to unreconstructed populists in Italy and Left and Right populists combined in France.

    It may be too early to consider this a European Spring. Yet what’s certain in several latitudes is that average European citizens feel increasingly inclined to shed the yoke of Neoliberal Technocracy and its dictatorship of Capital and Surveillance. Not to mention NATO warmongering.

    As virtually all European media is technocrat-controlled people won’t see this discussion in the MSM. Yet there’s a feeling in the air this may be heralding a Chinese-style end of a dynasty.

    In the Chinese calendar this is how it always goes: their historical-societal clock always runs with periods of between 200 and 400 years per dynasty.

    There are indeed intimations that Europe may be witnessing a rebirth.

    The period of upheaval will be long and arduous – due to the hordes of anarco-liberals who are such useful idiots for the Western oligarchy – or it could all come to a head in a single day. The target is quite clear: the death of Neoliberal Technocracy.

    That’s how the Xi-Putin view could make inroads across the collective West: show that this ersatz “modernity” (which incorporates rabid cancel culture) is essentially void compared to traditional, deeply rooted cultural values – be it Confucianism, Taoism or Eastern Orthodoxy. The Chinese and Russian concepts of civilization-state are much more appealing than they appear.

    Well, the (cultural) revolution won’t be televised; but it may work its charms via countless Telegram channels. France, infatuated with rebellion throughout its history, may well be jump to the vanguard – again.

    Yet nothing will change if the global financial casino is not subverted. Russia taught the world a lesson: it was preparing itself, in silence, for a long-term Total War. So much so that its calibrated counterpunch turned the Financial War upside down – completely destabilizing the casino. China, meanwhile, is re-balancing, and is on the way to be also prepared for Total War, hybrid and otherwise.

    The inestimable Michael Hudson, fresh from his latest book, The Collapse of Antiquity, where he deftly analyzes the role of debt in Greece And Rome, the roots of Western civilization, succinctly explains our current state of play:

    “America has pulled a color revolution at the top, in Germany, Holland, England, and France, essentially, where the foreign policy of Europe is not representing their own economic interests (…) America simply said, – We are committed to support a war of (what they call) democracy (by which they mean oligarchy, including the Nazism of Ukraine) against autocracy (…) Autocracy is any country strong enough to prevent the emergence of a creditor oligarchy, like China has prevented the creditor oligarchy.”

    So “creditor oligarchy”, in fact, can be explained as the toxic intersection between globalist wet dreams of total control and militarized Full Spectrum Dominance.

    The difference now is that Russia and China are showing to the Global South that what American strategists had in store for them – you’re going to “freeze in the dark” if you deviate from what we say – is no longer applicable. Most of the Global South is now in open geoeconomic revolt.

    Globalist neoliberal totalitarianism of course won’t disappear under a sand storm. At least not yet. There’s still a maelstrom of toxicity ahead: suspension of constitutional rights; Orwellian propaganda; goon squads; censorship; cancel culture; ideological conformity; irrational curbs of freedom of movement; hatred and even persecution of – Slav – Untermenschen; segregation; criminalization of dissent; book burnings, show trials; fake arrest mandates by the kangaroo ICC; ISIS-style terror.

    But the most important vector is that both China and Russia, each exhibiting their own complex particularities – and both dismissed by the West as unassimilable Others – are heavily invested in building workable economic models that are not connected, in several degrees, to the Western financial casino and/or supply chain networks. And that’s what’s driving the Exceptionalists berserk – even more berserk than they already are.

    *  *  *

    Pepe Escobar is a Eurasia-wide independent geopolitical analyst and author. His latest book is Raging Twenties (Nimble Books, 2021). Follow him on Telegram at @rocknrollgeopolitics

    Tyler Durden
    Thu, 04/13/2023 – 23:40

  • 1.25 Million Have 'Top Secret' Access In The US
    1.25 Million Have ‘Top Secret’ Access In The US

    The recent leak of classified Pentagon documents has highlighted the vulnerability of the system which grants access to classified government information.

    Initially suspected to have been an intelligence operation by a state actor, evidence is increasingly indicating that the leak originated from an individual working on a U.S. military base – motivated by impressing members of an online chat group.

    As Statista’s Martin Armstrong details below, the federal government grants top secret security clearance to large numbers of government employees and contractors: 1.25 million according to the latest publicly available figures.

    Infographic: 1.25 Million Have 'Top Secret' Access in the U.S. | Statista

    You will find more infographics at Statista

    Speaking in Ireland on Thursday, President Biden spoke publicly for the first time on the issue, saying there was a “full-blown” investigation into the issue and that despite the potentially damaging nature of the leak, ““there’s nothing contemporaneous that I’m aware of that is of great consequence.”

    The alleged leaker has been identified as 21-year-old National Guardsman Jack Teixera.

    Tyler Durden
    Thu, 04/13/2023 – 23:20

  • Appeals Court Ruling May Threaten DOJ Position In Dozens Of Jan. 6 Cases: Lawyer
    Appeals Court Ruling May Threaten DOJ Position In Dozens Of Jan. 6 Cases: Lawyer

    Authored by Gary Bai via The Epoch Times (emphasis ours),

    An April 7 decision issued by the D.C. Court of Appeals may jeopardize a key legal backing used by the Department of Justice (DOJ) to prosecute participants of the Jan. 6, 2021, Capitol breach, according to attorney Albert Watkins.

    Attorney Albert Watkins in New York City on April 11, 2023. (Samira Bouaou/The Epoch Times)

    “What this opinion did do was, it practically begged for other [Jan. 6] cases to be brought up to the Court of Appeals that would permit a more balanced opinion,” Watkins, who has represented four Jan. 6 defendants, including released prisoner Jacob Chansley, told The Epoch Times in an interview on April 11.

    Watkins’ comment came after a three-judge panel at the D.C. Court of Appeals, on April 7, struck down a lower court’s ruling in a 2–1 vote, dismissing a federal charge against three Jan. 6 defendants, and rejected the lower court’s reasoning about the scope of the obstruction charge.

    While the higher court’s ruling (pdf) allowed the DOJ’s prosecution of these three specific defendants—Joseph Fischer, Edward Lang, and Garret Miller—to continue, the impact of the higher court’s opinion extends beyond these cases, the attorney said.

    According to Watkins, this extended impact has to do with the interpretation of a term about “corrupt” intention in the wording of obstruction charges, considering that the DOJ has been using the obstruction charge as an “attractive” legal tool to prosecute Jan. 6 cases and score plea agreements.

    According to a provision in the statute for obstruction charge (18 U.S. Code § 1512 2(c)), “Whoever corruptly … otherwise obstructs, influences, or impedes any official proceeding, or attempts to do so, shall be fined under this title or imprisoned not more than 20 years, or both.”

    A narrowed definition of this provision could hinder the DOJ’s ability to use the charge further and introduce uncertainties in the ongoing trials, the attorney indicated. The DOJ had charged more than 200 Jan. 6 defendants with obstruction-related charges.

    “It should cause a certain degree of trepidation on the part of the Department of Justice about utilizing—in a very footloose and fancy-free fashion—the obstruction of an official proceeding charge as the count of choice for pleas,” Watkins said. “I will say it was, in many respects, an extraordinary opinion—more time was spent addressing potential issues not before the court than the issues actually before the court.”

    ‘Corrupt Intent’

    The key issue here is the interpretation of a necessary component of the obstruction charge (18 U.S. Code § 1512 (c)(2))—namely, the definition of “corrupt intent.”

    The appeals court ruling indicates that the DOJ prosecutors set forth an interpretation of “corrupt” criminal obstructive conduct as having “a broad meaning that encompasses all forms of obstructive conduct, including appellees’ allegedly violent efforts to stop Congress from certifying the results of the 2020 presidential election.”

    But all three judges of the D.C. Court of Appeals expressed some level of concern in their April 7 ruling about whether the government’s current interpretation of “corrupt” intent is appropriate.

    Biden appointee Florence Pan, who wrote the majority opinion, indicated that the definition of “corrupt” intent should be determined in a later case.

    “At least one pending case on this court’s docket squarely raises the definition of ‘corruptly’ under § 1512(c),” Pan wrote. “It is more prudent to delay addressing the meaning of ‘corrupt’ intent until that issue is properly presented to the court.”

    ‘Implausibly Broad’

    Trump appointee Justin Walker, in his opinion partially concurring with the ruling, diverged from Pan’s view that “corrupt intent” should be interpreted later and wrote in his opinion that the term should be precisely defined to avoid criminalizing legal civil discourse.

    Establishing a corrupt intent requires proving that a defendant intended to “obtain a benefit that he knows is unlawful,” Walker wrote, adding that this interpretation is narrower than the one offered by the government.

    Without a narrowed definition, Walker wrote, the obstruction charge could become “implausibly broad” and thus “criminalize many lawful attempts to ‘influence’ congressional proceedings—protests or lobbying, for example.”

    A narrowed definition could be applied to a “hypothetical” Jan. 6 protestor, Walker noted.

    “This rioter joined the throng outside Congress because he was angry at the nation’s elites. He saw the riot as an opportunity to display his bravado. Though likely guilty of other crimes, he did not act ‘corruptly’ under [the statute] because he did not intend to procure a benefit by obstructing the Electoral College vote count,” Walker wrote.

    It is yet to be seen if Walker’s opinion will become a binding precedent on the lower courts. Walker contends that it should be: He cited the Supreme Court’s reasoning in Marks v. United States (1977), which says the “narrowest” concurring opinion should be the binding opinion. Pan, objecting to this point in a footnote, says that the D.C. Court of Appeals “has never applied Marks to its own cases” and that “only one federal appellate court has done so.”

    Tyler Durden
    Thu, 04/13/2023 – 23:00

  • Ailing, Failing Feinstein To Step Down From Judiciary Amid Calls For Resignation
    Ailing, Failing Feinstein To Step Down From Judiciary Amid Calls For Resignation

    Under pressure from colleagues as her absence from the Senate impairs the Biden administration’s quest to cram the federal judiciary full of diversity-hire leftist fanatics, Sen. Diane Feinstein late Wednesday announced she will “temporarily” step down from her post on the Judiciary Committee.   

    Last month, Feinstein announced she wouldn’t run for re-election in 2024. The 89-year-old hasn’t cast a Senate vote of any kind in two months, as she’s been in her native San Francisco battling a persistent shingles infection. Three people who’ve recently visited her tell Politico that it’s taken a heavy toll on the oldest member of Congress. 

    Along with the 8-week absence of Pennsylvania Senator John Fetterman — while he received inpatient treatment for severe depression — Feinstein’s disappearance from duty has caused headaches for Democrats who only have a 51-49 Senate majority. Vice President Kamala Harris has been called in to cast tiebreaker votes, but some measures lacking unanimous Democratic support have stalled. 

    https://platform.twitter.com/widgets.js

    Feinstein’s empty seat has an even more pronounced impact on the Judiciary Committee, forcing Democrats to forego committee votes on nominees, delaying their progress toward votes of the full Senate. 

    “I understand that my absence could delay the important work of the Judiciary Committee,” said Feinstein in a statement, “so I’ve asked Leader Schumer to ask the Senate to allow another Democratic senator to temporarily serve until I’m able to resume my committee work.”

    By “important work,” she means advancing underwhelming nominees like Kato Crews, who last month demonstrated an alarming lack of fundamental legal knowledge during a confirmation hearing. 

    Earlier on Wednesday, House Democrats Ro Khanna (CA) and Dean Phillips (MN) publicly called for Feinstein to retire altogether

    “We have a crisis in the judiciary with extremist judges stripping away women’s rights,” Khanna told NBC News. “You can’t preach on television about the danger of these judges and then sit silently as Senator Feinstein misses vote after vote to confirm pro-choice judges.”

    https://platform.twitter.com/widgets.js

    Long before she came down with shingles, Feinstein had already demonstrated a mental incapacity to continue serving — but she did so anyway. Last year, Democrat-catering media outlets — including her hometown San Francisco Chronicle — began publishing articles with troubling accounts from Capitol Hill legislators and staffers.  

    In May, The New York Times ran an extensive article titled “As Feinstein Declines, Democrats Struggle to Maintain an Open Secret.” Two pointed takeaways: 

    • Ms. Feinstein sometimes struggles to recall the names of colleagues, frequently has little recollection of meetings or telephone conversations, and at times walks around in a state of befuddlement. 
    • One Democratic lawmaker who had an extended encounter with Ms. Feinstein in February said…the experience was akin to acting as a caregiver for a person in need of constant assistance. The lawmaker recalled having to reintroduce themself to the senator multiple times, helping her locate her purse repeatedly and answering the same set of basic, small-talk questions over and over again.

    Almost fittingly, even the announcement of her retirement seemed to validate accounts of her severe cognitive decline. Just a few hours after her office announced her retirement, reporters asked her about the news. “I haven’t made that decision. I haven’t released anything,” she said.    

    If Feinstein were to step down before finishing her term through 2024, California Gov. Gavin Newsom would install an interim replacement. Representatives Barbara Lee, Katie Porter and Adam Schiff have already announced their candidacy for the Democratic nomination, which would make a Newsom choice very impactful. 

    Tyler Durden
    Thu, 04/13/2023 – 22:40

  • Iran, Russia, China, Pakistan FMs Hold Meeting To Deal With Afghan Economic Collapse
    Iran, Russia, China, Pakistan FMs Hold Meeting To Deal With Afghan Economic Collapse

    Via The Cradle,

    The foreign ministers of Iran, Russia, China, and Pakistan held four-way talks on 13 April in the Uzbek city of Samarkand, on the sidelines of the fourth regional meeting of Afghanistan’s neighbors – where various issues and concerns regarding Afghanistan were discussed.

    Russian Foreign Minister Sergei Lavrov, Chinese Foreign Minister Qin Gang, Iranian Foreign Minister Hossein-Amir Abdollahian, and Pakistani Minister of State for Foreign Affairs, Rabbani Khar were photographed together before proceeding with the closed-door meeting, Russian news agency TASS reported.

    Following the meeting, Amir-Abdollahian said that he and the other diplomats discussed a wide range of issues regarding Afghanistan – including a recent surge in extremist activity, problems caused by US sanctions, the poor living conditions of the Afghan people, and the flow of Afghan refugees into Iran and other countries.

    The Iranian foreign minister stressed the importance of countering drug trafficking originating in the country, and the Taliban government’s responsibility in that area.

    He also strongly criticized the continued ban on female education in the country – which Iran has repeatedly listed as a condition for its recognition of the interim government.

    In this regard, the diplomats discussed steps to bring about a political settlement that includes an inclusive government, something Beijing has also consistently called on the Islamic Emirate of Afghanistan (IEA) to implement.

    They also discussed ways to stabilize humanitarian and socio-economic conditions in the country – particularly through “the development of regional economic integration and the implementation of transport and energy projects with Kabul’s participation,” TASS said.

    https://platform.twitter.com/widgets.js

    In the joint statement released after the meeting, the ministers expressed support for the principle of “Afghan leadership, Afghan ownership” regarding Afghanistan’s political determination and development path, Iran’s semi-official Tasnim news agency said.

    Afghanistan is currently facing a severe economic and humanitarian situation as a result of Washington’s decision to freeze billions of dollars in the country’s foreign reserves in 2021. This pushed the country into an acute crisis, given that the central bank lacks the resources to combat high inflation and food insecurity – which has become rampant. The country has also been facing an increased extremist threat through attacks from groups such as ISIS-K. Moscow has accused the US of encouraging ISIS-K activity in Afghanistan.

    Tyler Durden
    Thu, 04/13/2023 – 22:20

  • Uber Accused Of Price Surging Customers If Phone Battery Is Low
    Uber Accused Of Price Surging Customers If Phone Battery Is Low

    Belgian newspaper Dernière Heure alleges that the ride-hailing app Uber is modifying prices according to customers’ smartphone battery levels. A small study investigating this claim found discrepancies for similar trips: 

    Dernière Heure conducted a test using two smartphones, one with 84% battery and the other with 12%, to request a ride from their office in Brussels to Tour & Taxis in the centre.

    The result showed a significant price difference, with the phone at 12% battery being charged €17.56 and the phone at 84% battery being charged €16.6 for the same service.

    Uber rejected the small study by the Belgian newspaper. When contacted about the results, a spokesperson said:

    “Uber does not take into account the phone’s battery level to calculate the price of a trip. The dynamic pricing applied to trips booked via Uber is determined by the existing demand for rides and the supply of drivers who can respond to it. During peak hours, when there are many ride requests and few available drivers in a certain geographical area, this may impact the price of the trip.”

    “Uber’s explanation does not clarify why two users requesting the same ride at the same time would pay different fares. In any case, the price discrepancy may encourage users to compare offers on their respective phones when booking rides together,” The Brussels Times

    … and this isn’t the first time Uber has been accused of taking advantage of its users’ battery life.

    A broader study might be needed. 

    Tyler Durden
    Thu, 04/13/2023 – 22:00

  • US Military Would Need Conscription To Fight China: Expert
    US Military Would Need Conscription To Fight China: Expert

    Authored by Andrew Thornebrooke via The Epoch Times (emphasis ours),

    A U.S. Marine Corps Osprey comes in to land next to soldiers from Japan’s 1st Amphibious Rapid Deployment Brigade during an exercise with the U.S. 31st Marine Expeditionary Unit in Gotemba, Japan, on March 15, 2022. (Carl Court/Getty Images)

    The U.S. military could not achieve victory in a war with China using its current, all-volunteer force, according to one expert.

    The United States will thus need to radically transform its force structure to better contend with the emerging threat environment, up to and including by reinstating conscription, said Jonathan Askonas, an assistant professor of Politics at Catholic University of America.

    This is a five-alarm fire,” Askonas said during an April 11 discussion with the Hudson Institute think tank. “We’re facing global threats and we have a force structure which we know will not work against those threats.

    “We basically can’t fight a war larger than Iraq with the all-volunteer force.”

    The all-volunteer force has been a staple of U.S. military organization since 1973, when the draft was terminated along with the United States’ direct involvement in the Vietnam War.

    Unfortunately, Askonas said, the all-volunteer force was proving incapable of generating the number of service members required for a war between great powers, and its burdensome logistical processes were likely to be ineffective in either a conflict with China in the Indo-Pacific theater or supporting European powers against Russia.

    “We have a Goldilocks problem,” Askonas said. “Our army is too small as constituted to actually prosecute a war with these countries, but it’s large enough that it’s sucking a lot of resources away.”

    We have to be ruthless. We need to adapt our force structure not to hypothetical threats or in some universal Swiss army knife approach, but to the actual threats that we face.”

    To that end, Askonas suggested that the military should re-adopt a “cadre” system for deploying the military, not dissimilar to that used in World War II.

    Under such a system, the number of resource-heavy full time service members would be decreased in peacetime in favor of investing in expensive, slow-to-build items like warships.

    Read more here…

    Tyler Durden
    Thu, 04/13/2023 – 21:40

  • FSU Prof Leaves $190,000 Job After Claims Of Fraudulent Racism Studies
    FSU Prof Leaves $190,000 Job After Claims Of Fraudulent Racism Studies

    In the latest example of what happens when demand for racism exceeds supply, a black criminology professor has suddenly resigned from his $190,000-a-year post at Florida State University in the wake of accusations he distorted data with the purpose of “finding” racial prejudice where none existed.

    With six papers retracted for data manipulation, Eric Stewart says he’s been “essentially lynched” by “data thugs” (FSU)

    Eric Stewart, who’d spent 16 years at FSU and is a fellow of the American Society of Criminology, has for years been the subject of allegations of academic fraud. That’s led to six of his research studies being retracted, and now the Florida Standard reports he’s abandoned his exceedingly lucrative post in mid-semester. 

    Accusations of his fraud originated in 2019, and they came from a credible witness: University of Albany professor Justin Picket, who co-authored a 2011 study with Stewart.

    The study concluded that, as black and Hispanic populations grew, the public sought more discriminatory criminal sentences. Picket, however, says the data found no such relationship. Indeed, at least where Hispanics are concerned, the data point to the opposite effect

    “Pickett found that their sample size somehow had increased from 500 to over 1,000 respondents, the counties polled had decreased from 326 to 91, and the data was altered to the point of mathematical impossibility,” reports the Standard

    University of Albany Professor Justin Pickett

    Pickett says when he asked for access to the original data, Stewart refused, with the support of the other co-authors, FSU’s Marc Gertz and Maryland’s Brian Johnson, who are white. 

    As FSU assembled a three-member inquiry committee to study allegations of academic fraud in five of his racism studies, Stewart told school officials that Picket’s accusation “essentially lynched me and my academic character.” 

    He also told the Washington Times that “data thugs are after me. It seems very personal. All of the blame is being directed at me.” 

    The university was accused of pursuing a flimsy and tainted 2020 inquiry. In a seeming conflict of interest, two of the three people charged with the investigation had co-authored research with the accused Stewart.

    Perhaps brushed back from the plate by Stewart’s accusations of racist motives behind the inquiry, the panel concluded there was no need for a full investigation because “the professor had already been working with the journal’s editors to address any questions they had about the work,” said Gary K. Ostrander, FSU’s then-vice president for research.  

    Just when Stewart seemed to have dodged five bullets, a sixth study came under fire from Pickett, later in 2020. That apparently lit the fuse for Stewart’s sudden exit from US News & World Report‘s 7th-ranked criminology department, which ironically seems to care very little about imposing consequences for wrongdoing.  

    Some of Stewart’s number-bending exploration for racism has been funded with federal tax dollars, via grant money awarded by the National Science Foundation, a US government agency. 

    “There’s a huge monetary incentive to falsify data and there’s no accountability,” Pickett tells the Standard. “If you do this, the probability you’ll get caught is so, so low.”  

    Tyler Durden
    Thu, 04/13/2023 – 21:20

  • The Biden 10-Step Plan For Global Chaos
    The Biden 10-Step Plan For Global Chaos

    Authored by Victor Davis Hanson via AmGreatness.com,

    Our enemies do not fear us, our allies judge us unreliable, and neutrals assume America is in descent and too dangerous to join…

    Why is French President Emmanuel Macron cozying up to China while trashing his oldest ally, the United States?

    Why is there suddenly talk of discarding the dollar as the global currency?

    Why are Japan and India shrugging that they cannot follow the United States’ lead in boycotting Russian oil?

    Why is the president of Brazil traveling to China to pursue what he calls a “beautiful relationship”?

    Why is Israel suddenly facing attacks from its enemies in all directions?

    What happened to Turkey? Why is it threatening fellow NATO member Greece? Is it still a NATO ally, a mere neutral, or a de facto enemy?

    Why are there suddenly nonstop Chinese threats toward Taiwan?

    Why did Saudi Arabia conclude a new pact with Iran, its former archenemy?

    Why is Egypt sending rockets to Russia to be used in Ukraine?

    Since when did the Russians talk nonstop about the potential use of a tactical nuclear weapon?

    Why is Mexican President Andrés Manuel López Obrador bragging that millions of Mexicans have entered the United States, most of them illegally? And why is he interfering in U.S. elections by urging his expatriates to vote for Democrats?

    Why and how, in just two years, have a confused and often incoherent Joe Biden and team created such global chaos?

    Let us answer by listing 10 ways by which America lost all deterrence.

    1) Joe Biden abruptly pulled all U.S. troops from Afghanistan. He left behind to the Taliban hundreds of Americans and thousands of pro-American Afghans. Biden abandoned billions of dollars in U.S. equipment, the largest air base in central Asia—recently retrofitted at a cost of $300 million—and a $1 billion embassy. Our government called such a debacle a success. The world disagreed and saw only humiliation.

    2) The Biden Administration allowed a Chinese high-altitude spy balloon to traverse the continental United States, spying on key American military installations. The Chinese were defiant when caught and offered no apologies. In response, the Pentagon and the administration simply lied about the extent that China had surveilled top-secret sites. 

    3) In March 2021, at an Anchorage, Alaska mini-summit, Chinese diplomats unleashed a relentless barrage at their stunned and mostly silent American counterparts. They lectured the timid Biden Administration diplomats about American toxicity and hypocrisy. And they have defiantly refused to explain why and how their virology lab birthed the COVID virus that has killed tens of millions worldwide.

    4) In June 2021, in response to Russian cyber-attacks against the United States, Biden meekly asked Putin to at least make off-limits certain critical American infrastructure.

    5) When asked what he would do if Russia invaded Ukraine, Biden replied that the reaction would depend on whether the Russians conducted a “minor incursion.”

    6) Between 2021 and 2022, Joe Biden serially insulted and bragged that he would not meet Muhammad bin Salman, the de facto ruler of Saudi Arabia, and one of our oldest and most valuable allies in the Middle East.

    7) For much of 2021, the Biden Administration made it known that it was eager and ready to offer concessions to re-enter the dangerous Iran nuclear deal—at a time when Iran has joined China and Russia in a new geostrategic partnership.

    8) Almost immediately upon inauguration, the administration moved the United States away from Israel, restored financial aid to radical Palestinians, and both publicly and privately alienated the current Netanyahu government.

    9) In serial fashion, Biden stopped all construction on the border wall and opened the border. He made it known that illegal aliens were welcome to enter the United States unlawfully. Some 6-7 million did. He reinstated “catch and release.” And he did nothing about the Mexican cartel importation of fentanyl that has recently killed over 100,000 Americans per year.

    10) In the last two years, the Pentagon has embarked on a woke agenda. The army is short by 15,000 in its annual recruitment quota. The defense budget has not kept up with inflation. One of the greatest intelligence leaks in U.S. history just occurred from the Pentagon. The Pentagon refused to admit culpability and misled the country about Afghanistan and the Chinese spy balloon flight. The current chairman of the Joint Chiefs of Staff called his Chinese communist counterpart and head of the People’s Liberation Army to advise him that the U.S. military would warn the Chinese if it determined an order from its commander-in-chief Trump was inappropriate.

    This list of these self-inflicted disasters could be easily expanded.

    But the examples explain well enough why our emboldened enemies do not fear us, our triangulating allies judge us unreliable, and calculating neutrals assume America is in descent and too dangerous to join.

    Yet without America, the result is a new Chinese order in which, to quote the historian Thucydides, “the strong do what they can and the weak suffer what they must.”

    Tyler Durden
    Thu, 04/13/2023 – 21:00

  • China Sanctions House Foreign Affair Committee Chairman McCaul
    China Sanctions House Foreign Affair Committee Chairman McCaul

    So much for a diplomatic detente between the world’s two superpowers.

    China has banned US House Foreign Affairs Committee Chairman Michael McCaul from entering the country, along with other countermeasures after the politician’s recent visit to Taiwan, Bloomberg reported.

    The government is freezing any property or other assets McCaul, a Texas Republican Representative, may have in China (not that he has any) and banning Chinese nationals and organizations from transacting with him, according to a statement from its foreign ministry Thursday.

    His visit to Taiwan earlier this month and previous comments and actions interfere with Chinese internal affairs, the ministry said.

    McCaul led a bipartisan delegation of US lawmakers on a visit to Taiwan. While meeting Taiwan Vice President Lai Ching-te, the US politician compared Chinese leader Xi Jinping to Adolf Hitler.

    “Michael McCaul has frequently interfered in China’s internal affairs and harmed China’s interests in recent years,” the Ministry of Foreign Affairs said in the statement. His delegation’s visit to Taiwan has damaged China’s sovereignty and “seriously violated the one China principle and the provisions of the three joint communiques of China and the US.”

    Tyler Durden
    Thu, 04/13/2023 – 20:40

  • Washington Braces For Diplomatic Fallout Amid Fears Of Further Intel Leaks
    Washington Braces For Diplomatic Fallout Amid Fears Of Further Intel Leaks

    Authored by Adam Morrow via The Epoch Times (emphasis ours),

    U.S. federal agencies are scrambling to contain the diplomatic fallout after scores of classified documents pertaining to Ukraine—and other U.S. allies—were leaked online by as-yet-unknown actors.

    The podium at the State Department in Washington on Aug. 16, 2018. (Charlotte Cuthbertson/The Epoch Times)

    “U.S. officials across the interagency are engaging with allies and partners at high levels over this,” State Department spokesman Vedant Patel said at an April 10 press briefing.

    According to Patel, Washington seeks to reassure allies “of our commitment to safeguarding intelligence and the fidelity of securing our partnerships.” 

    The documents, most of which date from February or March of this year, initially appeared last month on online forums such as Discord and 4Chan. 

    South Korea’s President Yoon Suk-yeol arrives for the G-20 leaders’ summit in Nusa Dua, on the Indonesian resort island of Bali on Nov. 15, 2022. (Mast Irham/AFP via Getty Images)

    But they only made headlines on April 6, when the New York Times, citing “senior Biden administration officials,” reported their appearance on Twitter and Telegram.

    Both the Pentagon and Justice Department are now trying to find the source of the leaks—some of which point to U.S. spying activity—amid fears they could damage relations with allies.  

    There is no question that they [the leaks] present a risk to national security,” Patel said.

    Seoul: Leaks ‘Utterly False’

    Comprised of dozens of pages of text and images, most leaked documents relate to the ongoing conflict between Russia and Ukraine. 

    Others, however, purportedly contain classified information—which U.S. officials say may have been doctored—about key U.S. allies in Asia and the Middle East.  

    One document, for example, appears to give details of closed-door discussions between top South Korean officials regarding alleged U.S. pressure on Seoul to contribute more to Ukraine’s war effort. 

    The document’s content, and the fact that it was seemingly obtained via “signals intelligence” (intercepted communications), suggests that U.S. agencies may have spied on the government of South Korea, a longstanding ally of the United States.

    Egyptian President Abdel Fattah al-Sisi listens during the Baghdad conference in the Iraqi capital on Aug. 28, 2021. (Ludovic Marin/AFP via Getty Images)

    On April 11, U.S. Defense Secretary Lloyd Austin discussed the issue in a telephone call with his South Korean counterpart, Lee Jong-sup. 

    On the same day, South Korean President Yoon Suk-yeol said that allegations that his office had been the target of U.S. spying were “utterly false.” 

    Any attempt to damage relations between the United States and South Korea was contrary to the latter’s “national interest,” Yoon’s office said in a statement. 

    Yoon is slated to visit Washington later this month for talks with U.S. President Joe Biden.

    South Korean opposition figures, however, have decried alleged U.S. surveillance on government officials as a breach of the country’s national sovereignty.

    When asked directly about South Korea, the State Department’s Patel stressed that the U.S. commitment to South Korea was “ironclad.”

    They are one of our most important partners in the region,” he said.

    Read more here…

    Tyler Durden
    Thu, 04/13/2023 – 20:20

  • Putin Personally Approved Arrest Of WSJ Journalist, Report Says
    Putin Personally Approved Arrest Of WSJ Journalist, Report Says

    Russia says it will wait to consider the possibility of entering negotiations with the US over a prisoner swap until the courts settle the case of detained Wall Street Journal reporter Evan Gershkovich.

    Russian Deputy Foreign Minister Sergey Ryabkov told TASS on Thursday that talks about a potential prisoner swap “can be examined only after a court delivers its verdict.” This is the same stance Russia maintained regarding the Brittney Griner case. Her swap with notorious arms trafficker Victor Bout came only after she was handed a 9-year sentence and began serving it at a prison some 300 southeast of Moscow.

    Secretary of State Blinken demanded Gershkovich’s immediate release in a rare phone call last week with his Russian counterpart Sergey Lavrov.

    In the fresh Thursday comments, Ryabkov stressed that Moscow is not interested in any level of intervention by other countries. 

    “We are absolutely not interested in this,” Ryabkov said upon the suggestion that an outside country could help mediate. “We have a functioning channel, in the past it was used to reach specific agreements; these agreements have been implemented so third countries don’t play a part here.”

    The Biden administration’s recent classification of Gershkovich as “wrongfully detained” paves the way for a potential prisoner swap as he’s now considered a hostage of a foreign government. 

    The 31-year old WSJ reporter and American citizen had been detained by the FSB on a reporting trip in the city of Yekaterinburg on March 29. He’s accused of “espionage” for gathering information on a state-linked defense company. 

    Bloomberg has a fresh report saying that President Putin personally signed off on his arrest, which the Kremlin has denied

    The Kremlin on Thursday denied claims that Russian President Vladimir Putin personally endorsed the arrest of Wall Street Journal reporter Evan Gershkovich for espionage.

    Citing sources “familiar with the situation,” Bloomberg on Wednesday reported that the initiative to arrest Gershkovich came from “hawks among top officials of Russia’s security services.”

    Kremlin spokesperson Dmitry Peskov called the American journalist’s detention “the total prerogative of the special services” and not Putin’s decision.

    The American reporter has yet to be granted consular access, something which has angered the Biden administration. Given his case is more serious than the WNBA’s Griner (given the spy allegations), it could drag on for months through the courts. Ex-Marine Paul Whelan is also still languishing in Russian prison, after his arrest in 2018. In 2020 he was handed a 16-year sentence, also for spying-related charges, which the US has condemned as false.

    Tyler Durden
    Thu, 04/13/2023 – 20:00

  • Biden Admin Proposes Reducing Water Supply From Colorado River Basin Amid Drought
    Biden Admin Proposes Reducing Water Supply From Colorado River Basin Amid Drought

    Authored by Caden Pearson via The Epoch Times (emphasis ours),

    A dry cracked lake bed in drought-stricken Lake Mead in Boulder City, Nevada, on Sept. 15, 2022. (Frederic J. Brown/AFP via Getty Images)

    The Biden administration has proposed a federal mandate to reduce the supply of water to 40 million Americans who live in western states dependent on the Colorado River Basin to address long-term severe drought and low run-off conditions.

    The actions were part of a draft report by the Department of the Interior’s (DOI’s) Bureau of Reclamation.

    The draft Supplemental Environmental Impact Statement proposes to revise the current guidelines for the near-term operation of Glen Canyon and Hoover Dams.

    According to the DOI, the move forms part of the Biden administration’s efforts to invest in climate change resilience for the Colorado River Basin and all the communities that rely on it.

    The draft report explores different alternatives to ensure continued water deliveries and hydropower production for the 40 million Americans who depend on the river system.

    Two man-made reservoirs along the Utah–Arizona border, Lake Powell and Lake Mead, have dropped to dangerously low levels, nearing the so-called dead pool levels, which threaten water supplies and the hydropower-generated electricity for tens of millions of Americans.

    A sign showing where Lake Mead water levels were in 2002 is posted near the Lake Mead Marina in Lake Mead National Recreation Area, Nevada, on Aug. 19, 2022. (Justin Sullivan/Getty Images)

    DOI Deputy Secretary Tommy Beaudreau has said failure to act is not an option.

    Recognizing the severity of the worsening drought, the Biden-Harris administration is bringing every tool and every resource to bear through the President’s Investing in America agenda to protect the stability and sustainability of the Colorado River System now and into the future,” Beaudreau said in a statement.

    Bureau of Reclamation Commissioner Camille Calimlim Touton said drought conditions in the Colorado River Basin have worsened over two decades.

    “To meet this moment, we must continue to work together, through a commitment to protecting the river, leading with science and a shared understanding that unprecedented conditions require new solutions,” Touton said in the same statement.

    Proposed Action Alternatives

    The draft report proposes two ways to change how the dams are operated. Both involve using less water from the Glen Canyon Dam and dealing with additional water shortages. The main difference between the two proposals is how the shortages are shared out.

    The first option, referred to as “Action Alternative 1,” modeled the shortages based on who has the highest priority water rights. The second option, referred to as “Alternative 2,” modeled the shortages being shared out equally among all water users in the Lower Basin.

    Read more here…

    Tyler Durden
    Thu, 04/13/2023 – 19:40

  • Kunstler: How's That War Going?
    Kunstler: How’s That War Going?

    Authored by John Howard Kunstler via DailyReckoning.com,

    How’s the war going? Huh? Do you mean the war over in Ukraine? Or the US government’s war against its own people?

    Well, the first one, the Ukraine War, is mostly destroying Europe — though, apparently, the denizens of Germany, Holland, et al., haven’t figured that out yet. Europe’s industrial economy is toast without affordable Russian natural gas supplies.

    We turned off their pipeline for that in September and nobody in Europe objected. They just sucked it up and went back to smoking cigarettes at their café tables.

    A year or so from now, maybe nobody in Europe will have enough money for a cappuccino (or cigarettes) and maybe then they’ll start asking the mental mollusks who run things there some questions — if they don’t just leapfrog all that politesse and burn the joint down.

    The U.S. Wants the War to Continue

    The main thing about the Ukraine War is that the US doesn’t want it to end. You understand, it is not about any airy-fairy principles such as freedom for Ukraine. It’s about bleeding Russia. no matter how many dead Ukrainians it takes.

    It traces back to a US official plan to promote a delusional psychosis about Russia after years of using it to propagandize American citizens.

    Naturally, our folks-in-charge have to justify that antagonism by pretending we have vested interests in Ukraine, which we don’t, by the way.

    The Propaganda Campaign Is Backfiring

    So far, everything we’ve done to promote the conflict has backfired on Western Civ. Most of the rest of the world recognizes that the US has gone insane and they are taking careful steps to decouple from us — mainly to stop using our money for international trade.

    Really, would you want to have anything to do with a crazy person? No, you’d put as much distances as possible between you and this lunatic and stop even trying to communicate.

    If the world stops using the dollar in trade, the dollar will lose value, and so will the trillions in US bond paper held by other countries, which said countries will seek to unload as quickly as possible. Can you spell sovereign debt crisis?

    Look out below…

    Is It Worth It?

    Americans, apparently, are not emotionally exercised over the Ukraine War because we don’t have any troops coming home from there in body-bags (not yet, at least).

    Many have probably noticed that we’ve blown over $100-billion on the project, and, along with the aforementioned debt crisis, that might just plant a seed of resentment as prices in the supermarkets and at the gas pumps shoot up ever more and the mass job layoffs surge, and the repo man comes a’knocking, and more banks wobble.

    Of course, our Ukraine War project (based on the mind-game Why-Don’t-You-and-Him-Fight?) could end pretty suddenly if, as rumored, Ukraine runs out of cannon fodder and artillery shells (despite all our assistance). And then what?

    You’re left with “Joe Biden” looking like history’s all-time champeen loser, and watch out in the Taiwan Strait, where the US Pacific Fleet could get transformed into the world’s biggest set of floating ashtrays.

    You get the picture? Now how about that other war: our government’s war against us?

    The War Against the Public

    What canny reporters (Taibbi, Schellenberger) are calling the Censorship Industrial Complex has been pretty well outed. Everybody knows that the FBI, CIA, DHS, and many other agencies, via hijacked social media, have worked tirelessly to confound and bamboozle the public debate about, really, everything that matters.

    The odd part is that roughly half of America doesn’t seem to care. Of course, that is the same half of the country that has fallen in love with surveillance, censorship, political prosecutions, election monkey business, mandated mRNA shots, and other excursions into bad faith.

    Their auditors in the mainstream news media actually seem to relish their roles as enforcers of unreality.

    This degenerate wickedness has been escalating since one Donald Trump stepped onstage years ago. The “Joe Biden” regime affects to have trapped him finally in the lair of Manhattan DA Alvin Bragg. Now the game gets interesting.

    As to the case itself, a judge with any self-respect would have tossed it in a pre-trial hearing like a six-day-dead carp at the slightest prompting by a defense attorney — based, as it is, on multiple specious novelties of criminal law, not to mention being well beyond the statute of limitations.

    Lawfare

    If this stinker can actually get to trial, the prosecution will be a jurisprudential joke for the ages. If they get a Big Apple jury to go along with the joke, it will be short-listed through the appeals process clean up to the Supreme Court in a New York minute.

    And if that whole thing falls apart like the janky jenga tower it is, there are two other matters against Mr. Trump in the wings — the BS case in Fulton County, Georgia.

    That’s where the grand jury process was already compromised by a jury fore-person, self-identified as a “witch,” shooting her mouth off to the press; and the operation out of the DC Federal District run by one Special Counsel Jack Smith in the Mar-a-Lago classified papers matter — another loser case, considering all the other high officials currently entangled in similar complaints, as yet unmolested by any official charges.

    Sound like a plan?

    A Plan to Foment Civil War?

    Yes, it sounds like a plan to foment a civil war. Especially considering all the other BS in our country is being subjected to by a bureaucracy-gone-wild, the regime fronting for it, and its legions of mentally ill useful idiots disturbing the peace all over the land.

    Probably more than half of America realizes that the legal system has been hijacked by the same rogues who infiltrated social media and the state boards of election.

    They’re getting good and sick of it, along with all the mental twerkery around transgenderism, race hustling, climate change, and Ukraine.

    I’m sure it means we’re in for a thrilling spring and summer.

    Tyler Durden
    Thu, 04/13/2023 – 19:00

  • Rat Czar: NYC's "Director Of Rodent Migration" To Be Paid $155,000 Per Year
    Rat Czar: NYC’s “Director Of Rodent Migration” To Be Paid $155,000 Per Year

    New York City has found another novel way to dole out the increasing levy it places on its citizens via out-of-control taxation: a new city employee earning $155,000 a year to focus on ridding the city of rats. 

    That’s right – as of this week, New York City officially has a “Rat Czar” on its payroll. The employee, Kathleen Corradi, was introduced by New York Mayor Eric Adams this week. Her title is officially “director of rodent migration”, according to a Bloomberg writeup published this week.

    And Corradi’s resume has rats on it too: she was formerly the Department of Education’s rat reduction specialist, the report says. 

    Mayor Adams had announced earlier this year that he was looking for a fighter in the city’s “war against rats” and was willing to pay between $120,000 and $170,000 for someone to do say. 

    “I think, fighting rats, that’s not enough,” Adams said about her salary.

    “When I first saw this job posting, I wasn’t sure it was real,” Corradi said. But Adams knew it was meant to be, stating: “That’s almost a job made for her”. 

    Corradi has said she will look for the “most effective technique” to mitigate the rat problem. The city is already putting into place a plan to keep garbage from sitting on the street for long hours. It is also enforcing cleanliness violations at an 80% higher rate than last year. 

    Corradi concluded: “The mayor has made it very clear his stance on rats. He hates rats, I hate rats, all New Yorkers hate rats.”

    Now, how soon before taxpayers are funding universal basic income for the rats as a way to “solve” the issue? And how long until we count on climate change getting the blame?

    Tyler Durden
    Thu, 04/13/2023 – 18:40

  • North American Rail Volume Continues Decline Through Week 14: AAR
    North American Rail Volume Continues Decline Through Week 14: AAR

    By Railway Age,

    Through the first 14 weeks of 2023 (ending April 8), total North American carload and intermodal traffic dipped 3.9% from the same point last year, according to the Association of American Railroads’ (AAR) April 12 report. Both Canada and Mexico saw increases, while the U.S. experienced a drop-off.

    North American rail volume for the first 14 weeks of this year (ending April 8) on 12 reporting U.S., Canadian and Mexican railroads came in at 8,950,311 carloads and intermodal containers and trailers. Cumulative volume in Canada was 1,954,736 carloads and intermodal units, up 0.9% from 2022; in Mexico, 527,184 carloads and intermodal units, up 2.4%; and in the U.S., 6,468,391 carloads and intermodal units, down 5.8%.

    According to the AAR, for the week ending April 8, 2023, U.S. Class I railroads hauled a total of 451,336 carloads and intermodal units, falling 11.2% from the same week in 2022. This comprises 225,669 carloads—down 4.6% from the prior-year period—and 225,667 containers and trailers—down 17.0% compared with 2022.

    Four of the 10 carload commodity groups posted an increase compared with the same week in 2022. They included motor vehicles and parts, up 977 carloads, to 14,331; petroleum and petroleum products, up 543 carloads, to 9,861; and metallic ores and metals, up 529 carloads, to 21,230. Commodity groups that posted declines included grain, down 4,158 carloads, to 20,105; coal, down 3,655 carloads, to 62,070; and chemicals, down 3,615 carloads, to 31,525.

    For the first 14 weeks of 2023, U.S. railroads reported cumulative volume of 3,219,161 carloads, down 0.1% from the same point last year; and 3,249,230 intermodal units, down 10.8% from last year.

    North American rail volume for the week ending April 8, 2023, on 12 reporting U.S., Canadian and Mexican railroads totaled 325,473 carloads, a 4.0% decrease vs. the year-earlier period, and 293,300 intermodal units, a 19.4% drop from 2022. Total combined weekly rail traffic in North America was 618,773 carloads and intermodal units, a 12.0% fall-off.

    Canadian railroads reported 78,797 carloads for the week ending April 8, 2023, down 0.3%, and 58,922 intermodal units, down 21.9% from the same week in 2022.

    For the week ending April 8, 2023, Mexican railroads reported 21,007 carloads, falling 11.2% from the year-ago period, and 8,711 intermodal units, plunging 47.8%.

    Tyler Durden
    Thu, 04/13/2023 – 18:20

  • North Korea Test Fires New 'Harder-To-Detect' ICBM
    North Korea Test Fires New ‘Harder-To-Detect’ ICBM

    After weeks of ratcheted missile tests in response to recent joint US-South Korean military drills, the north has launched another new missile for the first time, being described as a harder-to-detect missile intercontinental ballistic missile (ICBM)

    South Korea’s Joint Chiefs of Staff said that it was launched from a high angle (presumably a mountainous region) near the capital and traveled 1,000km before plunging into the water between the Korean peninsula and Japan.

    A prior test launch, via KCNA

    It is believed to be a faster rocket than previous ICBMs tested by the north, given it was “a new type of ballistic missile that might have used solid fuel,” according to an official cited in The Hill

    A Biden administration National Security Council official said the US “strongly condemns” the long-range launch. “This launch is a brazen violation of multiple UN Security Council resolutions and needlessly raises tensions and risks destabilizing the security situation in the region,” she the official said. “This action demonstrates that the [Democratic People’s Republic of Korea] continues to prioritize its unlawful weapons of mass destruction and ballistic missile programs over the well-being of its people.”

    But the statement added that “The door has not closed on diplomacy, but Pyongyang must immediately cease its destabilizing actions and instead choose diplomatic engagement.”

    “The United States will take all necessary measures to ensure the security of the American homeland and Republic of Korea and Japanese allies,” the statement added.

    Tyler Durden
    Thu, 04/13/2023 – 18:00

  • Global Disinformation Index Withholds Information On Its Own Operations
    Global Disinformation Index Withholds Information On Its Own Operations

    Authored by Jonathan Turley,

    Gabe Kaminsky at the Washington Examiner is reporting that two U.S. nonprofit groups tied to the Global Disinformation Index are withholding information on their operations to protect staff and donors.

    The redactions of names from 2021 IRS tax returns is being justified on the basis that the GDI is being harassed by critics. It is an ironic move since, as discussed in earlier columns, the GDI targeted and blacklisted conservative groups to drain them of revenue and support.

    As discussed earlier, the British group ranked sites to warn people about high-risk disinformation sites. The ten most dangerous disinformation sites turned out to be conservative publications or Internet sites like Reason. Conversely, HuffPost made the top list of the most trustworthy for potential advertisers.

    The GDI is designed to steer advertisers and subscribers away from certain sites, working with “advertisers and the ad tech industry in assessing the reputational and brand risk when advertising with online media outlets and to help them avoid financially supporting disinformation online.” The State Department partially funded the effort. The Biden Administration gave $330 million to The National Endowment for Democracy, which partially supports the GDI’s budget.

    So the GDI actively sought to target other sites to organize opposition among advertisers, but now is withholding information to prevent a similar backlash against its own operations.

    The private AN Foundation, also known as the Disinformation Index Foundation, and its affiliated public charity, Disinformation Index Inc., redacted copies of their 2021 IRS tax returns. A lawyer cited a coordinated “harassment campaign” to justify the redactions.

    Some of the information was known from prior disclosures. For example, GDI CEO Clare Melford and its executive director, Daniel Rogers, are listed interchangeably in Delaware corporate records and other forms list Jo Jenks as treasurer. Other records reportedly list Melford as secretary, and Rogers as president.

    Other information was removed, including the redaction of who gave a $115,000 donation for this work.

    GDI also removed the list of its advisory panel members from its site. Again, these individuals were perfectly willing to participate in the blacklisting of conservative groups but appear to insist on anonymity for themselves. The panel reportedly included Finn Heinrich, a division director at the George Soros-funded Open Society Foundations grant-making network, according to his LinkedIn account.

    As the recipient of federal funds, the lack of transparency is troubling and is likely to be the focus of inquiries from House committees.

    Tyler Durden
    Thu, 04/13/2023 – 17:40

  • Bikini Barista Lawsuit Settled With 'Hillbilly Hotties' For $500K
    Bikini Barista Lawsuit Settled With ‘Hillbilly Hotties’ For $500K

    A six-year legal battle over employee attire at an R-rated coffee stand located in a Seattle suburb is finally over after the city of Everett, Washington voted unanimously last week in favor of a $500,000 payment to the owner and several employees.

    Photos via Hillbilly Espresso Instagram

    As part of the agreement, the city will retain most of its rules for probationary licensing of coffee stands and other quick- service businesses, but will no longer be able to dictate that baristas must don a minimum of tank tops and shorts. Instead, the city will adopt new dress code rules that comport with an existing lewd conduct standard that makes it a crime to publicly expose ‘too much’ of one’s private parts.

    Another provision will require that business owners post visible signs for employees on how to seek help if they’re being human trafficked.

    While the current lawsuit is six years in the making, the story starts in 2009, when Everett officials said they received complaints that some stands were selling sex shows, sex acts, and allowing customers to grope baristas. This led to four arrests and prosecutions.

    Then in 2013, the owners of two espresso stands were arrested on accusations that they promoted prostitution and exploited a minor. A Snohomish County sheriff’s sergeant was also arrested for tipping off baristas about undercover cops looking for sexual favors.

    In 2017, the city sought to hobble the stands’ draw by implementing a dress code ordinance requiring that owners and operators of such “quick service facilities” wear clothing that covers both the upper and lower portions of their bodies.

    Jovanna Edge, owner of the “Hillbilly Hotties” bikini barista stand sued the city, along with employees Natalie Bjerke, Matteson Hernandez, Leah Humphrey, Amelia Powell and Liberty Ziska, who argued that the ordinance violated their First Amendment rights.

    “Some countries make you wear lots of clothing because of their religious beliefs,” wrote Hernandez. “But America is different because you can wear what you want to wear. I wear what I’m comfortable with and others can wear what they are comfortable with.”

    While the case has been working its way through various courts, in October, a US District Court judge sided with the plaintiffs, finding the ordinance unconstitutional.

    While Edge and her employees sought $3 million, they settled for $500,000.

    As far as Everett officials are concerned, the settlement “still gives us our best tool to require stand owners to make sure their employees are not engaging in illegal conduct.”

    We hope you’ve enjoyed this constitutional content.

    Tyler Durden
    Thu, 04/13/2023 – 17:20

Digest powered by RSS Digest